Opportunity cost is called the
Average cost
Marginal cost
Economic cost
Total cost
Micro economics explains
Space studies
Community
Studies
Economy study
____________ studies whether resources are efficiently allocated.
Theory of production
Theory of distribution
Theory of product pricing
Welfare economics
Macro economics explains
Total employment
Total output
Total amount of services
All of these
The distinction between micro and macro economics was made by
Amartya Sen
J.R Hicks
Ragnar Frisch
Keynes
The output produced in an economy is distributed among various factors of production is known as
Theory of investment
___________deals with the functioning of the economy.
Micro economics
Macro economics
Econometrics
Public finance
The subject matter of economics is mainly divided into
Econometrics and mathematical economics
Micro and macro economics
Agriculture and international trade economics
Development and public finance
____________are the branches of micro economics.
Individual households
Firms
Industries