Give economic terms.
(1) Micro economics derived from the Greek word.
(2) Macro economics derived from the Greek word.
(3) Study of large economic unit.
(4) Study of small or millionth part of economic unit.
(5) Price determination of individual commodity by forces of demand and supply.
(6) Price determination of factor of production for contributing to the production process.
(7) Maximum satisfaction of people due to efficiency in the allocation of resources.
(8) Determination of the prices of goods and services as well as factors of production.
(9) Equal distribution of produce goods and services to the society for consumption.
(10) Production of most desired goods and services.
(11) Equilibrium position of an individual economic unit.
(12) Assumption of Micro economics i.e. other things remaining constant.
(13) Micro economics does not deal with macro problems.
(14) Economic decisions are taken at individual levels without intervention of government.
(15) Explanation of effects of tariffs, exchange rate, etc.
(16) Micro economics explain various complex economic situation with the help of economic models.
(17) Equilibrium position of whole economy.
