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Questions and Answers
What is the main focus of micro economics?
What is the main focus of micro economics?
- Study of modern economic theory
- Analysis of aggregate units
- Dealing with income theory
- Analysis of individual economic unit or variable (correct)
Which Greek word does 'micro' derive from?
Which Greek word does 'micro' derive from?
- MAKROS, meaning large
- MIKROS, meaning small (correct)
- MICRO, meaning individual
- MEGA, meaning huge
What method does micro economics use?
What method does micro economics use?
- Slicing method (correct)
- Lumping method
- Grouping method
- Aggregating method
Who first used the terms 'micro' and 'macro' in economics?
Who first used the terms 'micro' and 'macro' in economics?
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What does macro economics primarily deal with?
What does macro economics primarily deal with?
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