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PPC Assign

1) The document discusses microeconomics concepts related to production possibility curves (PPC), including defining PPC and opportunity cost, explaining the central problems of the economy using examples, and properties of PPC. 2) It provides a schedule to draw a PPC curve showing different combinations of goods X and Y, and calculate their marginal rates of transformation and opportunity cost. 3) It asks to show several points on the PPC curve related to changes in resources, technology, unattainable combinations, and under/over utilization of resources in an economy. 4) It concludes with a series of true/false questions testing understanding of concepts like operating on the PPC,

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33 views

PPC Assign

1) The document discusses microeconomics concepts related to production possibility curves (PPC), including defining PPC and opportunity cost, explaining the central problems of the economy using examples, and properties of PPC. 2) It provides a schedule to draw a PPC curve showing different combinations of goods X and Y, and calculate their marginal rates of transformation and opportunity cost. 3) It asks to show several points on the PPC curve related to changes in resources, technology, unattainable combinations, and under/over utilization of resources in an economy. 4) It concludes with a series of true/false questions testing understanding of concepts like operating on the PPC,

Uploaded by

raman195321
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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MICRO ECONOMICS CLASS 11TH

ASSIGNMENT

1 Define production possibility curve or frontier . 1


Define opportunity cost . 1
2 Explain the central problems of the economy using examples
A) What to produce 3
B) How to produce 3
C) For whom to produce 3
3 Explain the properties of PPC /PPF . 4
4 Define Marginal rate of transformation and marginal opportunity 2
cost .
5 Draw PPC using following schedule and calculate MOC /MRT. 5

combination Good X Good Y MOC/MRT


A 1 20 ----
B 2 19
C 3 17
D 4 14
E 5 10
F 6 5
6 Show the following points using PPC 5
I) Increase in resources in an economy like discovery of an oil field
II) Destruction of resources like during pandemic ,loss of human
capital resources like doctors, nurses
III) Upgradation in technology like better machines to produce PPE kits
faster
IV) Unattainable combination of goods
V) Underestimation of resources like unemployment or inefficient or
partial use of machine.
VI) Optimum or potential combination of goods due to efficient
utilisation of resources . like for eg if a labour works for 8 hrs a day and
works upto his full capacity as he is healthy and efficient in his work.
But during pandemic due to illness if the labour is not able to work
with his full efficiency then it leads to underutilisation of resources and
hence less production and hence the economy stays inside the PPC .
7 True or false 10
I) A point inside the PPC shows overutilisation of resources
II) During pandemic the economy can easily survive at PPC .
III) For whom to produce is a problem of distribution of income .
IV) What to produce is a problem of choice between the production of
goods given the technology.
V) India should not be an overpopulated country is a normative
statement.
VI) Prices if essential commodities are rising is an example of positive
economics .
VII) Government establishes large number of science and technology
institutes . this would lead to shift of PPC towards right .
VIII) Rich countries do not face central problems.
IX) Economy always operates on PPC .
X) No scarcity means no economic problem.

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