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Non-Competitive Markets

Question

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What is microeconomics?

Solution

It is that part of economic theory which deals with behaviour of individual units of an economy such as a household, a firm, an industry, etc.

Some More Questions From Non-Competitive Markets Chapter

National Income (NI)

Final Goods and Intermediate Goods

Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.

Consumption Goods and Capital Goods

Flow and Stock Concepts

Giving reasons categorise the following into stocks and flows:
(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)

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