Individual economic analysis does not deal with
Product prices
Factor prices
Allocation of resources
Sharing of resources
Macro economics explains
Total employment
Total output
Total amount of services
All of these
The output produced in an economy is distributed among various factors of production is known as
Theory of production
Theory of distribution
Theory of product pricing
Theory of investment
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
The distinction between micro and macro economics was emerged after
Great depression
Global meltdown
Discovery of USA
None of these
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
____________ studies whether resources are efficiently allocated.
Welfare economics
Opportunity cost is called the
Average cost
Marginal cost
Economic cost
Total cost
____________are the branches of micro economics.
Individual households
Firms
Industries
All important decisions regarding production, exchange and consumption of goods and services are made by the
Government
Private company
Educational institutions
Financial institutions
