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Economics Questions & Answers (Compiled from UPSC, SSC ,PSC ,IBPS previous question papers)

  • The Finance Commission

  • ADrows up Five year palns
  • BFormulates monetory policy
  • CRecommends pay revision of central Government Employees
  • DAdjudicates on the sharing of resources between center and the states
  • Opportunity cost of production of a commodity is

  • AThe cost that the firm could have incurred when a dirrerent technique was adopted
  • BThe cost that the firm could have incurred a different method oof production
  • CThe actual cost incurred
  • DThe next best alternative output sacrified