UNIT-1
EXPLAIN THE SCARCITY DEFINITION OF ECONOMICS WITH FEATURES AND CRITICISMS.
The scarcity definition of economics was given by Prof. Lionel Robbins, a English economist from the…
WHAT IS GOOD ? EXPLAIN ITS CLASSIFICATION AND IMPORTANCE.
Introduction: In ordinary usage, only tangible or material thing, such as books, furniture, clothes, food etc.…
Distinguish between Micro and Macro economics.
Meaning: The difference between micro and macro economics is huge. Microeconomics is a branch of economics…
What is Macro Economics? explain its Advantages and Disadvantages.
Introduction: Macro economics is that branch of economics which deals with the study of aggregate or…
Write a note on Subject matter of economics.
Introduction: The subject matter of economics refers to the scope, focus, and areas of study within…
Explain the meaning of economics.
Introduction to Economics: Economics is often regarded as the queen of social sciences. As a starting…
What is circular flow of national income. explain the flow in two sector, three sector, and four sector economy.
Introduction: In an economy goods and services and factor services are being constantly exchange between different…
What is Macro economics? explain its merits and demerits.
Introduction: Macro economics is a branch of economics that deals with the study of aggregate or…
Explain the importance of estimation of national income.
Introduction: The estimation of national income refers to the process of calculating the total economic output…
Explain the precautions in the estimation of national income.
INTRODUCTION: The estimation of national income refers to the process of calculating the total economic output…