Introduction of Micro-Economics — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIntroduction of Micro-Economics1 Mark
Question
What does a leftward shift of production possibility curve indicate?
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Answer
A leftward shift of PPC indicates either decline of resources or poor quality of technology in the economy. Both factors imply that the economy produces less of both the goods.
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