Macro economics is otherwise known as
Welfare Economics
Development Economics
Aggregate Economics
Micro Economics
The supply of labour in an economy at very high real wages.
Increases
Decreases
Remains Constant
Equality
_________ is limited by the extent of market.
Labour
Capital
Division of Labour
Profit
Capital means
Nature's Wealth
Goods and Services
Organisation
Building and Machinery
A successful entrepreneur is one who is ready to accept
Innovation
Risks
The location of the production unit
Low wages
Due to scarcity of resources
Every society must undertake central planning
The government must decide how to allocate the available resources
Some members of each society only can live
Every society must choose among competing uses of available resources
Utility is a __________ concept.
social concept
subjective / psychological concept
potential concept
scientific concept
Production refers to
Destruction of Wealth
Creation of Utilities
Exchange Value
Equilibrium
