An introduction to economics

अर्थशास्त्र

An introduction to economics

An introduction to economics                                                                                                                                                      Question 1 What is the meaning of consumption in economics?
Answer Consumption in economics refers to the use of goods and services to meet human needs.

Question 2 What is a mixed economy?
Answer: The economy in which both private and public enterprises work together. Both are controlle means of production, it is called mixed economy.

Question 3 What is the meaning of opportunity cost?
Answer

Question 4 Write the definition of economics.
Answer economics is a study of economic problems under which economic changes are undertaken to satisfy the needs of social, real and general values.

Question 5 What are the main components of Micro economics?
Answer The main components  Micro Economics are:
1 consumer behavior theory

2 productive behavior

3 theory price theory.

Question 6 What is the main central problem of an economy?

Answer The main central problem of an economy is the following, which is called the problem of selection. It is in the following areas –
1 What to be produced
2 How to be produced
3 For whom to be produced.

Question What is called a centralized schematic economy?
Answer: The economy in which all economic decisions are taken by one central government, called centralized schematic or social economy.

Question: How many branches of economy are there?
Answer There are mainly two branches of  Economy –

(1) Micro economics and (2) Macro economics.

 

An introduction to economics

 

Question: What is Market Economics?
Answer: From Market Economics, we understand that this is an independent economy, in which central problems are addressed by the market forces of demand and supply.

Question : Which problems are called economic problems in the economy?

Answer: The problem of selection of limited resources and the problem of allocation of resources is only an economic problem to meet unlimited needs.

Question : Give proper definitions and examples of  micro economics and macro economics.
Answer                                                                                                                                                                                             micro economics –
The branch of economics in which the economic problems related to individual economic units such as a consumer or a producer are studied. Examples – firm special or family special.
Macro economics –
The branch of economics in which the economic units related to the entire economy are studied. Such as total income, total expenditure, total savings etc.

Question What is the problem of  selection?
Answer Choosing one of the many opportunities for post production and consumption is called the problem of selection.

Question: Who used the word microscopic in economics?
In North Eastern economics, the term microscopic and common words were used by Regener Frisch.

Question is the part of the income which is not spent on consumption, what is called?
The part of the North income which is not spent on consumption, is called Savings.