Introduction to Micro Economics & Macro Economics - 2

Economic efficiency involves three efficiencies:

• Efficiency in production

• Efficiency in distribution

• Efficiency in consumption

• Overall economic efficiency

"General Theory of Employment, Interest and Money"- this book was published by ______________

• Prof. Alfred marshall

• Irving Fisher

• Adam Smith

• Maynard Keynes

Find odd word out:

• Study of Individual unit

• Slicing method

• Limited scope

• General equilibrium analysis

The term 'micro' is derived from Greek word _______.

• Mikros

• Makros

• Micros

________ analysis helps in allocation of resources.

• Micro Economics

• Macro Economics

 Micro economics is the study of __________Units

• Total

• Individual

• Aggregate

___________ is the balance between two factors.

• Equilibrium

• Disequilibrium

• Intersection

What does micro economics determines ??

• Price of a product

• National income

• Factor price

Micro economics analysis the different market structure such as :

• Perfect competition

• Monopoly

• Monopolistic competition

Micro economics does not studies the followings:

• Poverty

• Price of individual product

• Unemployment