______________ is not the subject matter of micro economics.
Individual households
Firms
Industries
Inflation
Opportunity cost is called the
Average cost
Marginal cost
Economic cost
Total cost
____________ studies whether resources are efficiently allocated.
Theory of production
Theory of distribution
Theory of product pricing
Welfare economics
The term micro is derived from
Mikros
Micros
Mackros
Makhros
The collection of all possible combinations of the goods and services that can be produced from a given amount of resources and a give stock of technological knowledge is called
Production
Production possibility set
Consumption
Distribution
Micro economics is the___________study of the economy.
Macro scope
Microscopic
Topographic
Development
All important decisions regarding production, exchange and consumption of goods and services are made by the
Government
Private company
Educational institutions
Financial institutions
Micro economics explains
Space studies
Community
Studies
Economy study
The distinction between micro and macro economics was made by
Amartya Sen
J.R Hicks
Ragnar Frisch
Keynes
___________deals with the functioning of the economy.
Micro economics
Macro economics
Econometrics
Public finance