Question : If there is a technological degradation and/or decrease in resources with respect to both the goods, it is known as ________.
Option 1: Rightward shift in PPF
Option 2: Leftward shift in PPF
Option 3: Rotation on X axis
Option 4: Rotation on Y axis
Answer (1)
22nd Jan, 2024
Correct Answer: Leftward shift in PPF
Solution : Leftward shift in PPF refers to a decline in resource availability and/or technical advancement with regard to both products. Hence, the correct option is 2.
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