In the production possibility frontier, a point inside the curve indicates: MCQ with Answer and Explanation

In the production possibility frontier, a point inside the curve indicates:
A. Efficient utilisation of resources
B. Unattainable combination
C. Technological progress
D. Underutilisation of resources
Answer: Option D
Solution (By JKSSB Mock Tests)
Any point inside the PPF represents underutilisation or inefficient use of resources. Points on the curve are efficient and points outside are unattainable with current resources.

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Practice More Economy Set 1 Questions

Question #1
The 'Economic Survey' is tabled in Parliament before the:
A. Monsoon Session
B. Union Budget
C. Railway Budget
D. Winter Session

Correct Answer: Option B


Explanation:
The Economic Survey is tabled just before the Union Budget.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Input Tax Credit' under GST allows a taxpayer to:
A. pay tax only on exports
B. avoid filing returns
C. deduct tax paid on inputs from output tax liability
D. refund all taxes paid

Correct Answer: Option C


Explanation:
Input Tax Credit permits deduction of input tax from output tax liability to avoid cascading.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'International Solar Alliance' is headquartered in:
A. Paris
B. New York
C. Gurugram, India
D. Geneva

Correct Answer: Option C


Explanation:
The International Solar Alliance is headquartered in Gurugram, India.

This question belongs to: Economy GK Economy Set 1