CUET Economics 2023 29 May Shift 2 PYQs

The scarcity of resources in the economy gives rise to the problem of............

The allocation of scarce resources and the distribution of the final goods and services are the _____ of any economy.

1. States problems
2. Consumption problems
3. Central problems
4. Production problems

Identify, where the point will lie in the production possibility frontier when the resources are either underemployed or are utilized in a wasteful manner

1. A point below the production possibility frontier
2. A point above the production possibility frontier
3. A point on the production possibility frontier
4. A point on or above the production possibility frontier