Question

1. Name the components of micro economics and macro economics. 2. "only planned economies face the central problems ". Do you agree? Give reasons in support of your answer

Answer 1

The important theories of Microeconomics.
1.      Theory of Consumer’s Behaviour and Demand
2.      Theory of Producer’s Behaviour and Supply
3.      Theory of Price Determination under different markets conditions
4.      Theory of Factor Pricing
5.      Theory of Welfare Economics

The important theories of Macroeconomics are:
1.      Theory of National Income
2.      Theory of Employment
3.      Theory of Money
4.      Theory of General Price Level
5.      Theory of International Trade
6.      Theory of Economic Growth