A country's resources are fully and efficiently employed. The problem of scarcity exists. What advice will be given to raise the efficiency level of the human resource to fight scarcity ?
Spread of education and training.
Which of the following is an assumption of Production Possibility Frontier? (i) Resources are not fully employed. (ii) Resources are not equally efficient for production of the two goods. (iii) Resources are not efficiently employed. (iv) Resources available are not fixed.
A scarcity problem arises because our resources are