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MICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY1 Mark
Question
Identify two situations when actual output is less than potential output.
✓

Answer

These are:
(i) when the given resources are not fully utilised, and
(ii) when the resources are not efficiently utilised.

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