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Introduction to Economics

Authored by Nilesh Waradkar

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12th Grade

Introduction to Economics
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56 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain the two Broad Branches of Economics

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain the Meaning of Micro Economics

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain the Meaning of Macro Economics

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4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Distinguish Between Micro and Macro Economics

Demand and supply are the major tools of micro economics

Price determination and Allocation of resources are the central problem of micro economics

It studies economy as a whole

Determination of income and Employment are the central problem of macro economics

It studies the individual Economic unit

5.

OPEN ENDED QUESTION

3 mins • 1 pt

What do you mean by scarcity of resources?

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What do you mean by problem of choice?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

What is meant by economic problem?

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