CUET Economics - A hypothetical economy has a piece of land which, in order of priority, can be used for building a school, a hospital, a factory and a residential complex. What is the opportunity cost of choosing the best alternative ? | PYQs + Solutions

CUET Economics

Micro

Easy

A school

A hospital

A factory

A residential complex

✅ Correct Option: 2

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Distribution of output relates to which central problem of an Economy ?

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__________ gives rise to the problem of choice.

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Match List - I with List - II.

List - I	List - II
(A) Centrally planned economy	(I) Depends on demand and supply forces
(B) Mixed economy	(II) Economic problem
(C) Market economy	(III) Socialist economy
(D) Problem of choice	(IV) Public and Private sector

Choose the correct answer from the options given below :

CUET Economics PYQs