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प्रश्न
A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.
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उत्तर
The government established technical training institutions to cope with advanced technology. This enabled human resources to improve their skills and to increase the level of output with low cost of production which leads to an increase in profit. Thus, the production possibility curve (PPC) will shift towards the right, and it reflects economic value with high production and skilled labour.
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संबंधित प्रश्न
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
Give the meaning and characteristics of production possibility frontier.
Giving reason comment on the shape of production possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 8 |
| 1 | 6 |
| 2 | 4 |
| 3 | 2 |
| 4 | 0 |
Giving reason, comment on the shape of Production Possibilities Curve based on the following table :
| Good X (units) | Good Y (units) |
| 0 | 20 |
| 1 | 18 |
| 2 | 14 |
| 3 | 8 |
| 4 | 0 |
Answer the following question.
Explain the meaning of opportunity cost with the help of a production possibility schedule.
Define Production Possibilities Curve. Explain why it is downward sloping from left to right.
Define flow variable.
Define flow variable.
What do you mean by the production possibilities of an economy?
What is a production possibility frontier?
Fill up the blank.
A Production Possibility Curve (PPC) would be convex to the origin if the Marginal Rate of Transformation (MRT) is ___________.
______ are economic units that carry out the production.
Production possibility curve slopes downwards from ______ to ______.
Which of the following statement is true:
Which of the following statement is false?
The total output generated by the first four units of variable input is 200 units, 350 units, 450 units and 500 units. The marginal product of the third unit of input is:
