(1)Macro economics is known as————————
Ans: Income theory.
(2) which economics deals with the statement such as a ‘what ought to be’
Ans:Normative economics
(3)___is the next best alternative forgne
Ans: opportunity cost.
(4)The rewards for entrepreneurship is
Ans:profit
(5) Microeconomics is deal s with____
Ans: price theory
(6) Define Production possiblity frontier
Ans:. PPC or production possiblity frontier is defined as the locus points of combination.of two goods which an economy can produce with available resources and given technology
(7)  Explain the features of centrally planned economy
Ans:.  *welfare motive or social welfare.
* planning mechanism
*Public sector
(8).     An economy reduces it’s production of wheat from 100units to 90units in order to increase the production  of rice from 5 units to 7 units. The marginal opportunity cost of rice in terms of wheat is ?????
Ans: 5
(9). what is capital intensive techniques?
Ans:.  It is the techniques which uses more of capital and less labour
(10). What are the features of PPC??
Ans:. *it is downward sloping from left to right
*. It is usually concave to origin