PRINCIPLES OF ECONOMICS UNIT -1

QUESTION BANK:

1. What is the meaning of Economics?
2. Write the definition of Economics?
3. Explain Alfred Marshall’s Welfare- Oriented Definition of Economics:
4. Explain Lionel Robbins’ Scarcity-Oriented Definition of Economics:
5. Explain Adam Smith’s Wealth- Oriented Definition of Economics:
6. What are the features of Micro Economics?
7. What are the features of Macro Economics?
8. Write difference between Micro and Macro Economics.
9. Write about the History of Economics.
10. Explain basic difference between Micro and Macro Economics.