The basic activity of the households is
Production
Distribution
Exchange
Consumption
The basic activity of firms is
Expenditure
Savings
The subject matter of economics is mainly divided into
Econometrics and mathematical economics
Micro and macro economics
Agriculture and international trade economics
Public finance and development economics
______________ is not the subject matter of micro economics.
Individual households
Firms
Industries
Inflation
The distinction between micro and macro economics was emerged after
Great depression
Global meltdown
Discovery of USA
Global warming
Individual economic analysis does not deal with
Product prices
Factor prices
Allocation of resources
Sharing of resources
The distinction between micro and macro economics was made by
Amartya Sen
J.R Hicks
Ragnar Frisch
Samuelson
The demand for goods and services will increase
Exchange of goods
Return for capital is
Rent
Wages
Profit
Interest
Return for land is
