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Class 12th Economics Quiz
3 Questions
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Class 12th Economics Quiz

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@PraisingForesight

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Questions and Answers

What is the basic economic problem?

  • Equal distribution of resources to fulfill human wants
  • Overabundance of resources relative to human wants
  • Scarcity of resources relative to human wants (correct)
  • Lack of human wants relative to available resources

    • What does the production possibility curve illustrate?

  • Equal distribution of resources
  • Opportunity cost and trade-offs (correct)
  • Unlimited resources and wants
  • Perfect allocation of resources

    • What is the primary function of a central bank?

  • Controlling the money supply and interest rates (correct)
  • Issuing currency notes
  • Regulating stock markets
  • Providing loans to individuals

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