1.The term ‘microeconomics’ derived from the Greek Word _____________ 2.Microeconomics is concerned with the study of ______________/__________________ 3.Microeconomics is a _______________ equilibrium analysis.4.Microeconomics adopts ______________approach5.The credit for the development of micro economics approach goes to ____________ 6.________________ implies that every individual under consideration behaves in aneconomically rational manner.7.Microeconomics deals with Factor Pricing.8.A rational Consumer wants ________________ Satisfaction.9.Utility depends on the __________________ of the want.10.Marshall assumes ____________________ measurement or utility.11._______________Utility is the sum of all the marginal utilities from the consumptionof a commodity.12.The utility from an extra unit of consumption is called ______________ utility.13.When Total utility falls, the marginal utility becomes___________________.14.The Marginal utility tends to diminish with the ___________________ in the units of consumption of a commodity.15.When Marginal Utility is zero, the total utility will be the ________________.16.The law of demand is based on the concept of ________________.17.The Law of DMU is not applicable for ________________.18.Producing Sugar from sugarcane is an example of _________________.19.The law of DMU is useful for ________________.20.A desire backed by ability to buy and willingness to pay for a commodity iscalled_________.21.The law of demand is based on the Law of _______________.22.Other thing remaining constant, when the price of a product increases, thedemand for it_____.23.The relationship between the price and demand is ______________.24.The normal demand curve slopes ________________.25.Electricity has Composite demand.26.Salt has _________________ demand.27.The demand for necessities is _______________ demand.28.______________ Demand curve is parallel to Y-axis.29.Demand for Pin is ________________.30.The demand for Luxuries is _______________.31.The relation between the price of a commodity and its supply is _____________.32.The slope of the supply curve is _________________.33.If monsoon fails, the supply of food grains would _______________.34.Reservation price is _______________- expected price.35.The Law of Supply represents general tendency of Sellers.36.Stock refers to the State Concept.37.Discriminating monopoly implies that the monopolist charges Different Prices.38.A single Seller market category is Monopoly.39.Selling Cost is an important feature of Monopolistic Competition.40.Demand Curve for a firm in a perfect competition is Horizontal line.41.The land is a ________________ factor.42.There are _______________ factor of production.43.Labour has a _______________ bargaining power.
44._____________is an activity that results in goods and services intended forexchange.45.Labour is _______________factors of production.46.Reward paid for capital is known as _________________.47.Land is subject to ___________ returns.48.Capital is a _____________ factor of production.49._____________ is regarded as primary factors of production.50.Reward obtained by entrepreneur is known as
P
ROFIT
.51.The Captain of the Industry is
ENTREPRENEUR
.
52.Land does not include
Machinery.
53.The Supply of labour in short run is _________________.54.The term macroeconomics is derived from the Greek word_________________.55.Macroeconomics is concerned with the study of_________________.56.Macroeconomics follows _________________ equilibrium.57.In _________________, there was worldwide depression.58.The credit for the development of macro – economic approach goes to _________________.59.Microeconomics assumes _________________.60.Subject matter of macroeconomics deals with _________________.61.The word ‘macro’ is derived from makros, which is a _________________ word.62.Macroeconomics does not deal with _________________.63.The revolutionary book named “The General Theory of Employment, Interest andMoney” was written by _________________.64.The value of national _________________ indicates national income.65.A _________________ economy does not have transactions with other countries.66.Real national income means the national income at _________________ prices.67.Net _________________ is added to gross expenditure in order to derive nationalincome in an open economy.68.By adding together rents, wages, interest and profits, national _________________ is obtained.69.When we deduct indirect taxes from National Income at Market Price, we getNational income at _________________.70.When we deduct Net factor Income from abroad from National Income, we get _________________.71.When we add net factor income from abroad to Domestic Income we get. _________________.72.For obtaining Net National Product, we deduct _________________ from GrossNational Product.73.The estimates of National Income in India are prepared by _________________.74.The value of output within the country in an accounting year is called.75.The value of output contributed by citizens of a country in an accounting year iscalled _________________.76.Macroeconomics is related to the study of the _________________
.
77.The determination of national Income is a subject matter of _________________ economics.78.The distribution of national income among factors of production is known as _________________ distribution.79.National income refers to value of goods and services produced in a _________________.80.Depreciation is also called as _________________.
81.The economy, having foreign trade relations is called _________________.82.The aggregate output is based on total _________________.83._________________ is the sum total of the output of goods and services producedin an economy.84.Except _________________, all the other factors of the aggregate supply remainconstant.85.Effective demand is the point of _________________ employment equilibrium.86.Real investment implies creation of new _________________.87.When exports are greater then imports, earnings will be _________________.88.The level of output has _________________ relationship with the level of employment.89.At full employment level, the aggregate supply function will be a _________________straight line.90.In a closed economy, AD is determined by ___________________.91.Intersection between aggregate demand and aggregate supply curvesdetermines the point of
effective
demand.92.The General Theory of Employment, Interest and Money was propounded by
J.M.Keynes.
93.The Aggregate Demand constitutes the flow of
Expenditure.
94.
Lord Keynes
gave the concept of Consumption Function.95.
Consumption
Function is refers to the propensity to consume.96.The expenditure incurred on railways, public parks, etc. is treated as
PublicCapital Expenditure
.97.Consumption Expenditure at Zero income level is called
autonomous
consumption Expenditure.98.Investment based on profit motive is called as
Induced Investment
.99.Aggregate Demand is determined by
Government Demand
.100.Aggregate Supply is determined by
Natural Resources
.101.Net exports will be negative if
Imports exceeds Exports
.102.Net exports are
added to
aggregate demand.103.Investment made irrespective of the rate of interest or the profit motive iscalled
autonomous
.104.A cheque which bears a future date is called a __________________cheque.105._____________ Cheques are not payable at the counter of the bank.106.Loans advanced by banks create
derivative
deposits.107.A _____________ cheque is safest cheque.108.Deposits on current account are referred to as ______________ deposits.109.A current account is most suitable for __________________.110.The payee gets cash on bank’s counter against ________________ cheque.111.Investment Corporation of India is an example of _________________bank.112.Overdraft facility is given to _____________________ account holder.113.Cash credit is given for a ____________________ period114. Use of cheques, is a sign of ___________________money.115.Saving bank account is suitable for people from ____________class.116._______________account holder earns lowest interest rate from the commercialbanks.117.Safe deposit lockers facility provided by the bank is one of the
Utility
functions.118.Higher the cash reserve ratio
lower
is the power to create credit bycommercial bank.
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