problem 1:

a) Illustrate the basic problems of the economy?
b) Describe such problems in detail and their solutions.

problem 2:

a) Describe the concept of PPC?
b) describe how the PPC can be used to address the three main problems of the society?

problem 3:

a) Describe the idea of price method.
b) Trace out the importance of such a mechanism.

problem 4:

a) Problems of the scarcity and choice are interrelated. Validate.
b) How would the idea of opportunity cost occur?

problem 5:

a) Illustrate the importance of a PPC.
b) State, in detail, the main properties of the PPC.