Introductory Microeconomics-What Is an Economy? (CBSE Class-12 Economics): Questions 1 - 10 of 10

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Question number: 1

» Introductory Microeconomics » What Is an Economy?

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State the problems relating to allocation of resources in an economy.

Question number: 2

» Introductory Microeconomics » What Is an Economy?

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State two features of resources that give rise to an economic problem.

Question number: 3

» Introductory Microeconomics » What Is an Economy?

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Explain the central problem of distribution in an economy.

Question number: 4

» Introductory Microeconomics » What Is an Economy?

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Explain the Central problem “how to produce. ”

Question number: 5

» Introductory Microeconomics » What Is an Economy?

One Liner Question▾

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What gives rise to an economic problem?

Question number: 6

» Introductory Microeconomics » What Is an Economy?

Appeared in Year: 2011

Short Answer Question▾

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What is market economy?

Question number: 7

» Introductory Microeconomics » What Is an Economy?

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Give two examples of the study of aggregates of the economic system.

Question number: 8

» Introductory Microeconomics » What Is an Economy?

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Why does an economic problem arise?

Question number: 9

» Introductory Microeconomics » What Is an Economy?

Essay Question▾

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Why do problem related to allocation of resources arise in an economy? Explain.

Explanation

The problem of allocation of resources arise because of scarcity of resources in relation to human needs. Human needs are never ending and the means of resources can never meet our wants as they are scarce in nature and have alternative uses. As the means are scarce and they have… (14 more words) …

Question number: 10

» Introductory Microeconomics » What Is an Economy?

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Why does an economic problem arise?

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