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Economising of resources means use of resources in best possible manner.


Y
Concave PPC
Y
Straight line

because
PPC

Good
Good

MOC
because

increasing
MOC Constant

Good X
Good X

Production Possibility Frontier
Features

Good Y

Convex PPC because MOC decreasing
Good X

          Slopes downward from left to right because if production of one good is to increase then production of other good has to be sacrificed.
          Concave to the origin because of increasing marginal opportunity cost or (MRT)
Rightward shift of PPC indicates increase in resources and improvement in technology.
Leftword shift of PPC indicates decrease in resources and degradation in technology.
Marginal Rate of Transformation (MRT) is the ratio of number of units of a good sacrificed to increase one more unit of the other good.
MRT can also called Marginal Opportunity Cost. It is defined as the additional cost in terms of number of units of a good sacrificed to produce an additional unit of the other good.

Condition of Equilibrium:
Px
Px Price of 'x'
(i)   MRSxy


Py


Py Price of 'y'
or budget line must be tangent to indifference curve
          MRS must be decreasing or,
Indifference curve must be convex to the origin.
Demand : It is that quantity which a consumer is able and is willing to buyat given price and in a given period of time.


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2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

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HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION COMMERCE, 2nd March, 2019

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SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

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HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

SSC SCIENCE II MARCH 2019 SOLUTION 10TH STD. 18th March, 2019.

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XII CBSE - BOARD - MARCH - 2019 ENGLISH - QP + SOLUTIONS, 2nd March, 2019

HSC Maharashtra Board Papers 2020

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