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Solutions for Chapter 1: Introduction to Micro and Macro Economics
Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Balbharati for Economics [English] 12 Standard HSC.
Balbharati solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro and Macro Economics EXERCISE [Page 7]
Choose the correct option:
The branch of economics that deals with the allocation of resources.
a) Microeconomics
b) Macroeconomics
c) Econometrics
d) None of these
a, b and c
a and b
only a
None of these
Concepts studied under Micro economics.
- National income
- General price level
- Factor pricing
- Product pricing
b and c
b, c and d
a, b and c
c and d
The method adopted in microeconomic analysis.
- Lumping method
- Aggregative method
- Slicing method
- Inclusive method
a, c and d
a, b and d
Only c
Only a
b, c, d
Concepts studied under Macroeconomics.
- Whole economy
- Economic development
- Aggregate supply
- Product pricing
a, b and c
b, c and d
only d
a, b, c and d
Complete the correlation:
Micro economics : Slicing method : : Macro economics : ______.
Complete the correlation:
Micro economics : Tree : : Macro economics : ______
Complete the correlation:
Macro economic theory : Income and employment : : Micro economics : ________
Complete the correlation:
Makros : Macro economics : : Mikros : ______
General equilibrium : Macro economics : : ______ : Micro economics
Identify and explain the concept from the given illustration:
Gauri collected the information about the income of a particular firm.
Identify and explain the concept from the given illustration:
Ramesh decided to take all decisions related to production, such as what and how to produce?
Identify and explain the concept from the given illustration:
Shabana paid wages to workers in her factory and interest in her bank loan.
Explain the features of microeconomics.
Explain the importance of Macro economics.
Explain the scope of Macro economics.
State with reason whether you agree or disagree with the following statement:
The scope of microeconomics is unlimited.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Macroeconomics deals with the study of individual behaviour.
Agree
Disagree
Macro economics is different from micro economics.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Micro economics uses slicing method.
Agree
Disagree
Do you agree with the following statement? Give reason.
Micro Economics is known as income theory.
Agree
Disagree
Answer in detail:
Explain any four points of importance of Micro economics.
Explain the concept of Macro economics and its features.
Solutions for 1: Introduction to Micro and Macro Economics
Balbharati solutions for Economics [English] 12 Standard HSC chapter 1 - Introduction to Micro and Macro Economics
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Concepts covered in Economics [English] 12 Standard HSC chapter 1 Introduction to Micro and Macro Economics are Introduction to Micro and Macro Economics, Micro Economics, Scope of Micro Economics, Features of Micro Economics, Importance of Micro Economics, Macro Economics, Scope of Macro Economics, Features of Macro Economic, Importance of Macro Economic, Micro Economics - Price Theory.
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