The output produced in an economy is distributed among various factors of production is known as
Theory of production
Theory of distribution
Theory of product pricing
Theory of demand
____________ deals with interaction of individual markets.
Micro economics
Macro economics
Econometrics
Public finance
Micro economics explains
Space studies
Community
Studies
Economy study
Macro economics explains
Total employment
Total output
Total amount of services
All of these
__________ are the basic economic activities of life.
Production
Exchange
Consumption
All the above
__________ is not the subject matter of micro economic
Individual households
Firms
Industries
Inflation
The subject matter of economics is mainly divided into
Econometrics and mathematical economics
Micro and macro economics
Agriculture and international trade economics
Development and public finance
All important decisions regarding production, exchange and consumption of goods and services are made by the
Government
Private company
Educational institutions
Financial institution
Individual economic analysis does not deal with
Product prices
Factor prices
Allocation of resources
Sharing of resources
___________ studies whether resources are efficiently allocated.
Welfare economics