CUET Economics 2025 15 May Shift 1 PYQs

Choose the correct statements from the following.

(A) The collection of all possible combinations of goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called the production possibility frontier.

(B) Slope of production possibility frontier is called marginal opportunity cost.

(C) In positive economic analysis, we study how the different mechanisms function.

(D) Scarcity of resources gives rise to the problem of choice.

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

Whether to use more resources in education and health or to use more resources in building military services. Which of the central problems of an economy is accurate for this?