By economizing resources we mean:
Using less resources
Not using resources
Making the best use of resources
Using more resources
Economic is
Social Science
General Science
Basic Science
Welfare science
Choice is fundamental to economic behaviours because
People fund it difficult to choose what they want
Resources are scarce in relation to wants
Prices depend on people making choice
Resource scarce
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
Supply curve
The branch of microeconomics which deals with efficiency in production and distribution is called
Welfare economics
Positive economics
Normative economics
Macro economics
"Wealth of Nation" is written by
Adam Smith
Alfred Marshall
Lionel Robbins
Samuelson
Another name for production possibility curve is
Transformation curve
Marginal Productivity curve
Indifference curve
Microeconomics is also called
Economic theory
Price theory
Demand theory
Supply theory
How to produce is a question relating to
Choice of techniques of production
Distribution of output produced
Growth of resources
Distrbution of input produced
The father of economics is
Robbins
