____________ deals with interaction of individual markets.
Micro economics
Macro economics
Econometrics
Public finance
________ is the cost of any activity measured in terms of value of the next best alternative forgone.
Opportunity cost
Average cost
Marginal cost
Total cost
The distinction between micro and macro economics was emerged after
Great depression
Global meltdown
Discovery of USA
Green revolution
The distinction between micro and macro economics was made by
Amartya Sen
J.R Hicks
Ragnar Frisch
Samuelson
Macro economics explains
Total employment
Total output
Total amount of services
All of these
Individual economic analysis does not deal with
Product prices
Factor prices
Allocation of resources
Sharing of resources
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
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 term economics derived from the Greek word namely
Oikou
Nomos
Oikou and nomos
Eco and nomos
The term micro is derived from
Mikros
Micros
Mackros
Makhro
