Microeconomics and Macroeconomics: Introduction — Practice Quiz
ICSE · Class 12 · Economics
Try a 4-question quiz on Microeconomics and Macroeconomics: Introduction for ICSE Class 12 Economics: tap an answer to check it and see why.
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Quick Quiz: Microeconomics and Macroeconomics: Introduction
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What does economics study in relation to scarcity and choice?
Which two broad branches divide the subject matter of economics?
What does scarcity mean?
What are resources used to produce?
Sample Questions
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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