Fill in the blanks with appropriate alternatives given
in the brackets
1. The term microeconomics and macroeconomics were first
used by ____________
Adam smith
Robbins
Ragnar Frisch
Marshall
2. Microeconomics is the study of ____________
whole economy
general price level
national output
individual economic unit
3. Microeconomics is concerned with the study of
aggregate demand
aggregate supply
individual demand
national income
4. ___________ is the important assumption of
microeconomics.
Unemployment
Partial unemployment
Full employment
Partial employment
5. Microeconomics is also called _____________
Income theory
Price theory
Growth Theory
Employment Theory
6. Microeconomic analysis adopts _____ method.
lumping
aggregative
slicing
inclusive
7. Microeconomics is a _________ equilibrium approach.
partial
general
total
multi – variable
8. Microeconomic approach was enthroned by _______________
Robinson
Marshall
Frisch
Smith
9. Microeconomics assumes______________
monopoly
oligopoly
perfect competition
monopolistic competition
10. The study of microeconomics is ____________ in nature.
comprehensive
aggregative
summative
individualistic
