Sponsor Area
Non-Competitive Markets
Question
Define microeconomics.
Solution
Meaning of microeconomics — Briefly, microeconomics is the study of individual economic units of an economy. It is that part of economic theory which deals with the individual parts of the economic system like individual households, individual firms, individual industries, etc. It concerns with the study of individual choice and decisionmaking.
Some More Questions From Non-Competitive Markets Chapter
Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
Gross Investment and Net Investment
Domestic (Economic) Territory
National Income at Current and Constant Prices (Nominal and Real NI)
Consumption of Fixed Capital (Depreciation)
Factor Cost vs. Market Price (or Net Indirect Taxes)
Net Factor Income from Abroad (NFIA)
Value of Output vs. Value Added
Factor Payment (Income) vs. Transfer Payment (Income)
Sources of Domestic Income
Sponsor Area
Mock Test Series
Mock Test Series