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Chapters
2: Consumer's Behavior
3: Demand Analysis
4: Elasticity of Demand
5: Producer's Behaviour
6: Forms of Market and Price Determination Under Perfect Competition
7: Factors of Production
8: Introduction to Macro Economics
9: National Income
10: Determinants of Aggregates
11: Money
12: Commercial Banking
13: Central Banking
14: Public Economics
![Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 1 - Introduction to Micro Economics - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 1 - Introduction to Micro Economics")
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Solutions for Chapter 1: Introduction to Micro Economics
Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Micheal Vaz for Economics [English] 12 Standard HSC.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 1 [Page 6]
Fill in the blank with appropriate alternative given below.
The terms Micro and Macro Economics were first used by _______________.
Adam Smith
Robbins
Ragner Frisch
Marshall
Fill in the blank with appropriate alternative given below
Micro Economics is a study of _________.
Whole economy
general price level
National output
Individual economic unit
Micro Economics is also called as ______.
Income theory
Price theory
Growth theory
Employment theory
Micro Economic analysis adopts ______ method.
lumping
aggregative
Slicing
inclusive
Fill in the blank with appropriate alternative given below.
Micro Economics is a __________________________ equilibrium approach.
partial
general
total
multi-variable
Match the following
| Group A | Group B |
| 1) Adam Smith | A) Aggregates |
| 2) Micro Economics | B) Prof. Boulding |
| 3) Macro Economics | C) Father of Economics |
| 4) Dr. Marshall | D) Individual units |
| E) Economic efficiency | |
| F) Principles of Economics |
State whether the following statement is TRUE or FALSE.
Dr. Marshall is known as the Father of Economics.
TRUE
FALSE
State whether the following statement is TRUE or FALSE.
Micro Economics studies theory of firm.
TRUE
FALSE
State whether the following statement is TRUE or FALSE.
Micro Economics deals with allocation of resources.
TRUE
FALSE
State whether the following statement is TRUE or FALSE.
Micro Economic theory assumes full employment.
TRUE
FALSE
State whether the following statement is TRUE or FALSE.
Micro Economic theory suggests policies to solve problem of inflation.
TRUE
FALSE
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 2 [Page 6]
Define or Explain the following concept.
Micro Economics
Define or Explain the following concept.
Partial equilibrium
Define or Explain the following concept.
Economic efficiency
Define or Explain the following concept.
Individual economic unit
Define or Explain the following concept.
Resource allocation
Give reason or explain the following statement:
Micro economics is also known as price theory.
Give reason or explain the following statement.
Micro economics studies individual economic unit.
Give reason or explain the following statement.
Micro Economics analyses partial equilibrium.
Give reason or explain the following statement.
Micro Economic theories are based on certain assumptions.
Give reason or explain the following statement.
Marginalism principle is used as a tool of analysis in micro economics.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 3 [Page 6]
Explain the features of microeconomics.
Write short note on :
Subject matter of Micro Economics
Write a short notes Historical review of microeconomics.
Write short note on :
Importance of Micro Economics
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 4 [Pages 6 - 7]
Answer the following question
Explain the meaning of Micro Economics with the help of few important definitions.
Answer the following question
What is the scope & subject matter of Micro Economics?
Answer the following question
What is the importance of Micro Economics?
Explain the features of microeconomics.
Answer the following question
What are the basic economic questions dealt by Micro Economics?
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 5 [Page 7]
Do you agree with the following statement? Give reason.
Micro Economics studies behaviour of individual unit.
Do you agree with the following statement? Give reason.
Micro Economics is known as income theory.
Agree
Disagree
Micheal Vaz solutions for Economics [English] 12 Standard HSC 1 Introduction to Micro Economics Exercise 6 [Page 7]
Explain the features of microeconomics.
Answer in detail
Explain the scope and subject matter of Micro Economics.
Solutions for 1: Introduction to Micro Economics
Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 1 - Introduction to Micro Economics
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Concepts covered in Economics [English] 12 Standard HSC chapter 1 Introduction to Micro Economics are Features of Micro Economics, Analysis of Market Structure, Importance of Micro Economics, Micro Economics - Slicing Method, Use of Marginalism Principle in Micro Economics, Micro Economics - Price Theory, Micro Economic - Price Determination, Micro Economics - Working of a Free Market Economy, Micro Economics - International Trade and Public Finance, Basis of Welfare Economics, Micro Economics - Useful to Government, Assumption of Micro Economic Analysis, Meaning of Micro and Macro Economics.
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