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Microeconomics

Which theory ...

Question

Which theory is generally included under micro-economics?

A

Price Theory

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B

Income Theory

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C

Employment Theory

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D

None of the above

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Solution

The correct option is A Price Theory
Price theory, also known as microeconomics, is concerned with the economic behaviour or individual consumers, producers, and resource owners. It explains the production, allocation, consumption and pricing of goods and services.

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Similar questions

Q. Fill in the blanks with appropriate alternatives given in the brackets.

1) The terms Micro and Macro Economics were first used by _______________. (Adam Smith/ Robbins/ Ragner Frisch/ Marshall).

2) Micro Economics is a study of _________. (Whole economy/ general price level/ National output/ Individual economic unit).

3) Micro Economics is also called as ________________. (Income theory/ Price theory/ Growth theory/ Employment theory)

4) Micro Economic analysis adopts __________________ method. (lumping/ aggregative/ Slicing/ inclusive)

5) Micro Economics is a __________________________ equilibrium approach. (partial/ general/ total/ multi-variable).

Q. Which of the following factor is not included in micro-environment?

Q. Dalton's theory included which idea?

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-finance is the provision of financial services to the people of low income groups. This includes both consumer and the self-employed. The service/ services rendered under micro-finance is/are:

1.

Credit facilities

2.

Saving facilities

3.

Insurance facilities

4.

Fund transfer facilities
Which of the statements give above is/are correct?

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