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Introduction

Question

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Draw a PP curve showing (i) Full employment of resources, (ii) Under-utilisation of resources, and (iii) Growth of resources.

Solution

Solution not provided.

Some More Questions From Introduction Chapter

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.

What is meant by commodities?

What is meant by an economy?

What are vital functions of an economy?

Name three basic economic activities of life.

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