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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 ECONOMY2 Marks
Question
Write the assumptions of production possibility curve.
✓

Answer

The basic assumptions of production possibility curve are:
(i) Resources are given.
(ii) The given resources are fully and efficiently utilised.
(iii) Technique of production remains constant.

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