Micro economic theory studies how a free enterprise economy determines:

Related MCQs

• In a free enterprise economy, the problems of what, how and for whom to produce are solved by :
• The validity of an economic theory is judged by its power to:
• In economic theory the costs of a firm
• The average total costs of the firm as defined in standard economic theory
• The word micro was first used in Economics by:
• The first economist who coined the terms micro economics and macroeconomics
• Microeconomics studies the decision making behavior of:
• Who considered Political Economy as “an enquiry into the nature and causes of the wealth of nations”?
• The fundamental problem faced by an economy is one of :
• Which of the following statements best describes the general form of a production function: (i) It is a purely technological relationship between quantities of input and quantities of output. (ii) It represents the technology of an organisation, sector of an economy. (iii) Prices of inputs or of the output do not enter into the production function. (iv) It is a flow concept describing the transformation of inputs into output per unitof time.