Question
| Group ‘A’ | Group ‘B’ |
| (1) Slicing method | Micro economics |
| (2) Economic welfare | Overall economic efficiency |
| (3)Macro economics | Income theory |
| (4) Maynard Keynes | Microscopic study of economy |
| Group ‘A’ | Group ‘B’ |
| (1) Slicing method | Micro economics |
| (2) Economic welfare | Overall economic efficiency |
| (3)Macro economics | Income theory |
| (4) Maynard Keynes | Microscopic study of economy |
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| Group ‘A’ | Group ‘B’ |
| 1. Primary goods | Jute, cotton, tea |
| 2. Invisible goods | Cloth, medicine, car |
| 3. Capital goods | Machinery, technology, steel |
| Group ‘A’ | Group ‘B’ |
| (i) Inferior goods | Giffen goods |
| (2) Prestige goods | Luxury goods |
| (3) Expanasion of demand | Fall in price |
| (4) Increase in demand | Unfavourable changes in other factors |
| Group ‘A’ | Group ‘B’ |
| 1. Disutilit | Negative MU |
| 2. Homogeneity | Identical unit |
| 3. Law of DMU | Explained by Prof. Gossen |
| 4. Maximum TU | Zero MU |
| Group ‘A’ | Group ‘B’ |
| (1) Sir Robert Giffen | England |
| (2) Increase in real income | Decrease in demand |
| (3) Inferior goods | Bread |
| (4) Superior goods | Meat |
| Group ‘A’ | Group ‘B’ |
| (1) Macro | (a) Makros |
| (2) Prof. Alfred Marshall | (b) Neo-classical economist |
| (3) Lumping method | (c) Splits the whole economy |
| (4) Partial equilibrium | (d) Micro economics |
| Group ‘A’ | Group ‘B’ |
| (1) Maynard Keynes | Macro economic approach |
| (2) Micro | Mikros |
| (3) Adam Smith | Classical economist |
| (4) Census | Limited scope |
| Group ‘A’ | Group ‘B’ |
| 1. Total Output | Sum of quantity produced |
| 2. Stock | Reservation Price |
| 3. Supply | Quantity offered for sale |
| Group ‘A’ | Group ‘B’ |
| 1. Balanced budget | (a) Advocated by Adam Smith |
| 2. Public revenue | (b) expenditure of the government |
| 3. A deficit budget | (c) useful in depression period |
| 4. Surplus budget | (d) Receipts > Expenditure |
| Group‘A | Group ‘B’ |
| 1. Internal trade | Between two or more countries |
| 2. Oceanic trade | Trade by sea |
| 3. Export trade | Sale of goods by one country to another country |
| Group ‘A’ | Group ‘B’ |
| (1)Macro | Individual unit |
| (2) Factor pricing | Rent, wages, interest and profit |
| (3) Ceteris paribus | Other things being constant |
| (4) Micro | Price theory |