Chp-1 Flashcards
The branch of economics that deals with allocation of resources
Microeconomics
Concept studies under microeconomics
Product and factor pricing
Method adopted in microeconomics analysis
Slicing method
Concept studies under macroeconomics
Whole Economy, economic development, aggregate supply
Complete the correlation
Microeconomics is equal to slicing method that relates to macroeconomics..?
Lumping method
Microeconomics is equal to tree therefore macroeconomics is equal to what
Forest
Economic theory is equal to income and employment therefore microeconomics is equal to what
Product pricing
Macros is equal to macroeconomics mikros is equal to what
Microeconomics
Identify the concept from given illustrations
Gauri collected the information about the income of particular firm
Microeconomics
Ramesh decided to take all decisions related to production such as what and how to produce
Free market economy
Shabana paid pages to workers in her factory and interest on her bank loan
Factor pricing
Agree or disagree
The scope of microeconomics is unlimited
Disagree
Macroeconomics deals with the study of individual behaviour
Disagree
MacroEconomics is different from microeconomics
Agree
Microeconomics uses slicing method
Agree
Microeconomics is known as income theory
Disagree
