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Introduction of Micro-Economics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIntroduction of Micro-Economics1 Mark
Question
State any three assumptions on which a production possibilities curve is based.
✓

Answer

The concept of PP curve is based on the following assumptions:
  1. First, the amount of resources in the economy is fixed.
  2. Second, the technology is given and unchanged.
  3. Third, the resources are efficient and fully employed.

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