CUET Economics PYQs

If we want to have more of one of the goods, we will have less of the other good. Thus, there is always a cost of having a little more of one good in terms of the amount of the other good that has to be forgone. What is this cost known as?

Who is regarded as the father of modern economics?

1. Adam Smith.
2. John Maynard Keynes.
3. Amartya Sen.
4. Abraham Maslow.

Which of the following depicts the central problem of economy, 'How to produce'?