Introduction To Microeconomics - Class 11 Commerce Economics - Extra Questions

Write the assumptions taken behind PPC.



Describe the problem of full employment of resources in an economy.



How the problems of distribution could be solved by an economy?



The scarcity of resources is regarded as the root cause behind central economic problems. Give reasons.



The problem, 'how to produce', is an important basic problem of an economy. Explain how it is solved in free economy? On what factors does the solution of this problem depend?



Define and differentiate between micro and macro economics.



Why there are different answers for the question "What to Produce" in different economies?



Describe the problem 'For whom to produce'.



Write the basic problems faced by an economy. Explain any three in detail.



Explain the problem of "how to produce".



Distinguish between :
Micro Variables and Macro Variables



Distinguish between:
Microeconomics and Macroeconomics



Distinguish between :
Partial Equilibrium and General Equilibrium



Distinguish between :
Micro Theory of Distribution and Macro Theory of Distribution



Explain with reasons whether you agree or disagree with following statements.
Macroeconomics is different from Microeconomics.



Give Reasons or explain the following statements.
Macro Economics is different from Micro Economics. Or Macro Economics is wider than Micro Economics.



Define / explain the following concepts.
Macro variables.



Give comparison between Micro and Macro Economics.



Define or Explain the Concepts.
Micro economic theories are based on certain assumptions.



Discuss the importance of Micro Economics.



Micro economics deals with allocation of resources. Comment.



Explain the concept:
Micro Economics.



Do you agree with following statements? Give reasons.
a) Micro Economics studies behavior of individual economic units.
b) Micro Economics uses slicing method.



Explain the central problem of "choice of technique".



State one example of positive economics.



Explain the central problem of "for whom to produce".



What does production possibilities curve show? Can it shift? When?



What is the problem of choice?



Why does the problem of choice arise?



Define scarcity.



Why do central problems arise? State the principal reason.



State one principle difference between microeconomics and macroeconomics.



What are the central problems of an economy?



State one example of normative economics.



Distinguish between positive and normative economics.



What is meant by production possibility curve?



Explain the concepts of positive and normative economics with illustrations.



Write the assumptions of production possibility curve.



Why should there be huge unemployment in India when scarcity of resources is a universal fact?




Define marginal rate of transformation.



Does production possibility frontier indicate the actual level of output or potential level of output?



Do you think the actual level of output in the Indian economy is less than its potential level?



A shift from steam engines to diesel and electric engines has increased carrying capacity of the Indian Railways both for the passenger traffic and the goods traffic. How would you reflect this  change using the concept of PPC?



Draw a transformation curve, given the following possibilities of production (resources and technology remains constant). Also, find the marginal opportunity cost when more and more guns are produced in place of bread.
Guns(Units)012345
Bread (Units)30282418100



"Massive unemployment shifts the PPC to the left". Defend or refute.



If more & more resources are constantly explored and new & new techniques of production are constantly discovered, don't you think a day will come when our central problems will be solved once for all?



How is production possibility frontier affected when resources are inefficiently employed in an economy?



Does it mean that the level of our PPC could be higher than what it is now?



For those working under MGNREGA, the government has raised minimum employment from $$100$$ to $$150$$ days during an year. How would it impact the actual and potential level of output in the economy?



Why marginal opportunity cost must rise as resources are shifted from Use-$$1$$ to Use-$$2$$, even when given resources are fully and efficiently utilised?



Giving reason, comment on the shape of production possibility frontier based on the following schedule. Also, find the marginal opportunity cost of producing Good-A.
Good - A (units)012345
Good - B (units)65523926130



How can we achieve the parity between the actual level of output and the potential level of output in the Indian economy? State two possible steps.



Explain the central problem of 'choice of technique'.



What does a production possibility curve show? When will it shift to the right?



What do you mean by the production possibilities of an economy?



Discuss the central problems of an economy.



Why is production possibility curve concave?



"An economy always produces on but not inside a PPC". Defend or refute.



State the central problems of an economy. Why do they arise?



What are the three central problems of an economy?



Explain the central problem of 'what to produce'.



Explain the central problem of 'for whom to produce'.



Draw a production possibility curve. What do the points inside and outside this curve indicate? Explain.



An economy produces two goods: watches and shoes. The following table summarises its production possibilities. Calculate the marginal opportunity cost of watches at various combinations. Give a diagrammatic presentation of production possibilities.
Watches (Millions)$$0$$$$1$$$$2$$$$3$$$$4$$$$5$$
Shoes (Thousands)$$90,000$$$$80,000$$$$68,000$$$$52,000$$$$34,000$$$$10,000$$



What is meant by production possibility curve? Illustrate the central problem of 'what to produce' using this curve.



Why do central problems arise? Explain the problem of how to produce.



Draw a production possibility curve and indicate Fuller and efficient utilisation of resources.



How are central problems solved in different economies?



What will be the impact of "Education for All campaign" (Sarv Shiksha Abhiyan) on the Production Possibilities Curve of the Indian economy and why?



The government has started promoting foreign capital. What is its economic value in the context of Production Possibilities Frontier?



Answer the following question in $$4$$ sentences.
Name the basic problems of an Economy.



Answer the following question in $$15$$ sentences.
Write the differences between micro and macro economics.



Answer the following question in $$12$$ sentences.
Briefly explain the central problems of an economy.



What does the problem for whom to produce refer to?



Explain the importance of micro economics.



What would be an example of positive economic analysis?



Explain the concepts and scope of Micro Economics and Macro Economics.



Does macroeconomics depend on microeconomics or microeconomics depend on macroeconomics?



Fill in the blank:
The Marginal Rate of Transformation (MRT) is constant. The Production Possibility Curve, so formed, would be __________________ to the origin.



Explain the central problem of an economy.



Problem of choice is the basis of _________. (economic problem / social problem)



Explain briefly the problem of 'what to produce'.



Which aspect is related to the problem 'how to produce'?



Write the three 'basic problems' of any economic system.



What is a PPC? Discuss the problem of under-utilization and full employment of resources with the help of a PPC.



Apply the concept of PPC to explain the problem of scarcity.



What is meant by normative economics?



Using a diagram explain what happens to the PPC of Kashmir if the widespread floods have led to the destruction of human lives?
958448_78f55df4de1e411f870fdcccf2d0129b.png



Resources are allocated to Use - $$1$$ and Use - $$2$$ to produce wheat and apples. Technology improves for the production of wheat. How would it impact the PPC? Draw a suitable diagram.



What is meant by production possibility curve? Illustrate with the help of a table and diagram.



What is a production possibility frontier?



'Make in India' campaign would shift the PPC to the right. How?



Resources are allocated to Use - $$1$$ and Use - $$2$$ to produce wheat and apples. Technology improves for the production of apples. How would it impact the PPC? Draw a suitable diagram.



Answer the following question in $$15$$ sentences.
Is economics positive or normative economics- Discuss.



Class 11 Commerce Economics Extra Questions