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Introduction

Question

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How does concept of opportunity cost help us to obtain situation of full and efficient use of resources on Production Possibility curve?

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Some More Questions From Introduction Chapter

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.

What is meant by an economic problem?

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