The Welfare definition of economics was given by
Adam Smith
Keynes
Alfred Marshall
Samuelson
The father of economics is
Robbins
Another name for production possibility curve is
Transformation curve
Marginal Productivity curve
Indifference curve
Supply curve
"Wealth of Nation" is written by
Lionel Robbins
A shift of the production possibility curve to the right means
Expansion of output produced
Scope for greater choice
That the economy is able to produce more of the commodities than before
What to produce is a question of
Efficient use of resources
Allocation of resources
Growth of resources
Resources
Scarcity definition of economics was given by
How to produce is a question relating to
Choice of techniques of production
Distribution of output produced
Distrbution of input produced
For whom to produce relates to the
Functional distribution of income.
Personal distribution of income
Economic needs of the poor
Distribution
The branch of microeconomics which deals with efficiency in production and distribution is called
Welfare economics
Positive economics
Normative economics
Macro economics
