National Income Accounting — Economics STD 12 Humanities & Commerce — Question

Mention one difference between central bank and commercial bank. 

What does a rightward shift of production possibility curve indicate?

What does the movement from one point to another along a PPC show?###What does a movement along the production possibility curve indicate?

What does a rightward shift of pro duction possibility curve indicate?

What do you mean by the problem of scarcity?

How equilibrium price of a commodity is affected when demand increases less than the supply?

Under which market form, firm is a price taker?###In which market form, a firm cannot influence the price of the product?###When is a firm called price taker?

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

Give the meaning of opportunity cost.

Define a 'direct tax'.