Class XII

The Marginal opportunity cost of producing Good X is
  1. The money spent on producing Good X
  2. The quantity of the Good Y sacrificed
  3. The marginal cost of Good X produced
  4. The cost of production
The basic economic activities put in order are
  1. Production, consumption and exchange
  2. Production, Exchange and consumption
  3. Consumption, exchange and production
  4. Exchange, production and consumption
Labour intensive technique would get chosen in
  1. Capital surplus economy
  2. Developing economies
  3. Developed economies
  4. Labour surplus economy
An individual in economics is
  1. A dependent unit
  2. A human being only
  3. An individual decision making unit
  4. A good
Increasing MOC mean
  1. Concave PPC
  2. Straight PPC
  3. Inverted PPC
  4. Convex PPC
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