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Which one of the following statements is correct?
A. Most production possibilities curves illustrate decreasing marginal opportunity costs.
B. Relative scarcity is no longer a central idea in economics because we are in an age of abundance.
C. The production possibilities curve shows society's preferences for consumer goods relative to capital goods.
D. The central concept underlying the production possibilities curve is that of limited resources.
factor for long run trend of term of trade
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it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
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what are its effects on the Indian economy? Ans) It is largely positive. Globalization has brought a lot of jobs and large sums of investment to India. India's economy has been
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