Statement 1 : The simplest way to understand development is to see it as a continuous outward shift of the production possibility curve.
Statement 2 : Economic development involves a change in the structure of the economy and some say that it also involves major changes in the social structure.
Choose the correct answer from the options given :
1
Both Statement 1 and 2 are true
2
Statement 1 is true and Statement 2 is false
3
Both Statement 1 and 2 are false
4
Statement 1 is false and Statement 2 is true