Does production take place on a PP curve? Explain.

Solution

(i) Yes, if available resources are fully and efficiently used. No, production does not take place on a PP curve if resources are under-utilised or inefficiently used or both.

Some More Questions From Introduction Chapter

Briefly state meaning of the following terms as used in economics.
1. Economy (D 2010 C), 2. Goods, 3. Services, 4. Wants, 5. Resources,
6. Households, 7. Firms, 8. Commodities, 9. Production, 10. Consumption

For Daily Free Study Material Join wiredfaculty

Introduction

Does production take place on a PP curve? Explain.

Some More Questions From Introduction Chapter

Briefly state meaning of the following terms as used in economics.
1. Economy (D 2010 C), 2. Goods, 3. Services, 4. Wants, 5. Resources,
6. Households, 7. Firms, 8. Commodities, 9. Production, 10. Consumption

Explain central problems with the help of PP curve. How does PP curve help in explaining the central problems?

(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?

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation

Phone Number

Email Address

Loaction

For Daily Free Study Material Join wiredfaculty

Introduction

Does production take place on a PP curve? Explain.

Some More Questions From Introduction Chapter

Briefly state meaning of the following terms as used in economics.1. Economy (D 2010 C), 2. Goods, 3. Services, 4. Wants, 5. Resources,6. Households, 7. Firms, 8. Commodities, 9. Production, 10. Consumption

Explain central problems with the help of PP curve. How does PP curve help in explaining the central problems?

(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?

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation

Briefly state meaning of the following terms as used in economics.
1. Economy (D 2010 C), 2. Goods, 3. Services, 4. Wants, 5. Resources,
6. Households, 7. Firms, 8. Commodities, 9. Production, 10. Consumption

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

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