Question

Which is not an economic resource?

A) an economist

B) coal

C) company stock share

D) low-skilled labor

During periods of unemployment, the production possibilities curve:

A) shifts inward

B) moves to a point on the interior

Answer 1

1. Economic resources are things that can be used to produce goods and services. It can be divided as human resources such as labor and non human resources such as land, capital, financial resources and markets, technologies etc.

An economist can't be considered as economics resources as they study about the consequences of economics and can't be used to produce goods or services, while all the other three work as resources.

Answer- option A

2. During unemployment, a PPF doesn't shift( only change in economic growth or technology shifts a PPF outward and destruction of capital equipment shifts a PPF inward ) instead as the economy has less resources to use, they produce at a point inside their PPF.

Answer- B