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 demand
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
Opportunity cost is called the
Average cost
Marginal cost
Economic cost
Total cost
The distinction between micro and macro economics was made by
Amartya Sen
J.R Hicks
Ragnar Frisch
Samuelson
____________are the branches of micro economics.
Individual households
Firms
Industries
All of these
___________ studies whether resources are efficiently allocated.
Welfare economics
____________ deals with interaction of individual markets.
Micro economics
Macro economics
Econometrics
Public finance
__________ are the basic economic activities of life.
Production
Exchange
Consumption
All the above
Micro economics is the ___________ study of the economy.
Macro scope
Microscopic
Topographic
Micrographic
The term economics derived from the Greek word namely
Oikou
Nomos
Oikou and nomos
Eco and nomos
