Microeconomics and Macroeconomics: Introduction — Important Questions
ICSE · Class 12 · Economics
70 important questions from Microeconomics and Macroeconomics: Introduction for ICSE Class 12 Economics, with answers. Written for the board exams 2027.
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Important Questions from Microeconomics and Macroeconomics: Introduction
Which set correctly names the four factors of production?
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Land, labour, capital and entrepreneurship
Resources are classified into land, labour, capital and entrepreneurship, and are called factors of production.
What does economy refer to?
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Economic activities of a specific area or region
Economy refers to the economic activities of a specific area or region.
The word micro has been derived from which Greek word?
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Mikros
Micro is derived from the Greek word mikros, meaning small.
What does the Greek word makros mean?
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Large
Macro is derived from the Greek word makros, which means large.
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