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Planning for Development

deals with th...

Question

___________ deals with the problem of allocation of resources.

A

Statistic

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B

Macro-Economic Theory

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C

Econometrics

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D

Micro-Economic Theory

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Solution

The correct option is D Micro-Economic Theory
Micro economics deals in the study of production of output of individual firms which requires resource allocation as many resources have alternative uses.

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Similar questions

Q. The branch of economic theory that deals with the problem of allocation of resources is ________________.

Q. State whether the following statements are TRUE or FALSE.

1) Dr. Marshall is known as the Father of Economics.

2) Micro Economics studies theory of firm.

3) Micro Economics deals with allocation of resources.

4) Micro Economic theory assumes full employment.

5) Micro Economic theory suggests policies to solve problem of inflation.

Q. Micro economics deals with allocation of resources. Comment.

Q. Match the following:
(i) The problem of allocation of resources (a) Root cause of all economic problems
(ii) The problem of distribution (b) What to produce?
(iii) Scarcity (c) For whom to produce?
(iv) The problem of technique (d) How to produce?

The economizing problem involves the allocation of resources among competing wants. There is an economizing problem because there are:

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