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Introduction

Question

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What do you understand by positive economic analysis?

Solution

Positive economic analysis deals with things 'as they are' (i.e., actuals). Examples are: India is over populated, prices have been rising in India.

Some More Questions From Introduction Chapter

(i) Why is PP curve downward sloping from left to right? (D 2006C)

(ii) Why does PP curve look concave to the origin?

Can the PP curve shift?

State factors which cause rightward (upward) shift of PP curve.

How is PPC affected by unemployment in the economy? Explain.

Massive unemployment shifts the PPC to the left. Defend or refute.

What is meant by resources?

What do you understand by the term 'individual' in economics?

What is meant by goods?

Define services.

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Mock Test Series

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