Basic Problems of an Economy

Problems of an Economy

Introduction

Economic Problem is essentially a problem arising out of unlimited wants but limited resources which can be put to alternative use. There are various causes of economic problems like the unlimited nature of wants and the differences in their urgency, scarcity of resources and the
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Production Possibility Curve & Central Problems

Introduction

Production possibility curve (PPC) is a curve which shows the alternative combinations of two goods or services that can be produced by using all resources fully and efficiently in a given period of time. It is also known as transformation curve as it shows the transformation of
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