The branch of microeconomics which deals with efficiency in production and distribution is called
Welfare economics
Positive economics
Normative economics
Macro economics
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
Economic problem arises because of
Abundance of resources
Scarcity of resources
Alternative use of resources
Not using resources
Economic problem arises in
All types of economies
Poor economies
Rich economies
Capital economy
The technique of using more labour and less capital is called
Capital intensive technique
Labour intensive technique
Economizing the use of labour
Supply and demand
By economizing resources we mean:
Using less resources
Making the best use of resources
Using more resources
What to produce is a question of
Efficient use of resources
Allocation of resources
Growth of resources
Resources
Nature and significance of economic science was written by:
Alfred Marshall
Adam Smith
Lionel Robbins
Samuelson
How to produce is a question relating to
Choice of techniques of production
Distribution of output produced
Distribution of input produced
Capital intensive technique is the method of using
More labour and less Capital
More Capital and less Labour
More Capital and More Labour
More labour and More capital
