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Questions and Answers
Which branch of economics focuses on the transfer of goods and services for consumption?
Which branch of economics focuses on the transfer of goods and services for consumption?
- Exchange (correct)
- Consumption
- Production
- Distribution
What is the study of the distribution of national income among factors in the form of Rent, wages, Interest, and profit?
What is the study of the distribution of national income among factors in the form of Rent, wages, Interest, and profit?
- Distribution (correct)
- Consumption
- Production
- Exchange
Which branch of economics refers to the financial activities of the government and local bodies?
Which branch of economics refers to the financial activities of the government and local bodies?
- Production
- Consumption
- Public Finance (correct)
- Exchange
What does economic planning refer to?
What does economic planning refer to?
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Which branch of economics studies how man utilizes his limited resources for the satisfaction of his unlimited wants?
Which branch of economics studies how man utilizes his limited resources for the satisfaction of his unlimited wants?
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What are the different branches of economics traditionally divided into?
What are the different branches of economics traditionally divided into?
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Define consumption.
Define consumption.
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What does production refer to?
What does production refer to?
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Explain exchange.
Explain exchange.
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Define distribution.
Define distribution.
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