1. Soft Skills Courses
  2. EEC-11
  3. Unit-1
unit-1-central-problems

Unit-1 Central Problems

The purpose of this unit is to define the subject matter of economics, highlighting what constitute the central (essential) problems of an economy.

A PPC provides an economy’s ‘Menu of Choice’. If resources are scarce and fully employed, will the economy be operating on PPC or inside it?




< Back To All Answers

Answer

{{currentAnswer.user.userName}}

Written on {{ansDate()}}

{{trustHtmlContent(currentAnswer.answerContent)}}

Learning Pundits Content Team

Written on Jun 26, 2019 5:29:55 PM

If you are unemployed you are not producing any output. If you are underemployed you can produce some output but not your potential output that is maximum output.