Aggregate supply is the total amount
Of a labour supplied by all house holds
Of goods and services produced in an economy
Produced by the government
Of products produced by a given industry
Micro economics is not concerned with the behaviour of
Industries
Aggregate demand
Firms
Consumers
Normative economics is based on
Cause and effect of facts
Ethics
Value judgments
Both A and C
" Wealth of Nation " is written by
Adam Smith
Alfred Marshall
Lionel Robbins
Samuelson
Micro economics is concerned with
The economy as a whole
The electronics industry
The study of individual economic behaviour
The interactions within the entire economy
According to Prof: Marshall , Economics is science of
Wealth
Scarcity and Choice
Material Welfare
Resources
Macro Economics deals with
The behaviour of the electronics industry
Economic Aggregates
The behaviour of firms
The activities of individual units
Scarcity problem arises because our resources are
Unlimited
Limited
Sufficient
Vast
An Enquiry in to the Nature and causes of wealth of Nations" is the book of economist
Marshall
Robbins
