Question

Complete the Correlation.

i) Microeconomics: Mikros :: Macro economics :

ii) General equilibrium: macro economics :: : micro economics

iii) Toys made of clay: :: Woollen clothes : place utility

iv) Aggregate utility from all units consumed: Total utility:: Additional utility from last unit -

consumed :

v) Demand curve: :: Supply curve : upward

vi) Tea and coffee : :: Electricity : composite demand

vii) Relatively elastic demand : Ed > 1 : : Relatively inelastic demand :

viii) Steeper demand curve : Relatively inelastic demand :: Flatter demand curve:

ix) Total cost : TFC + TVC :: Average cost :

x) Expansion of supply : Price rises :: Contraction of supply :

xi) Perfect competition : Free entry and exit :: : barriers to entry

xii) Monopoly : Price discrimination :: product differentiation

xiii) : Base year price :: 1 : Current year price

xiv) Laaspeyre's index : :: Paasche's Index : Current year quantities

xv) : C + I + G + (X - M) : : GNP : C + I + G + X - M + (R - P)

xvi) Output method: :: Income method : Factor cost method

xvii) : Protection from external attacks :: Optional function : Provision of social security.

xviii) Income tax: Direct tax :: GST :

xix) : Commercial bank :: Credit control : Central bank

xx) Primary market : New issues launched to raise capital :: Old issues through - stock​

Answer 1

Answer:

Complete the Correlation.

i) Microeconomics: Mikros :: Macro economics :

ii) General equilibrium: macro economics :: : micro economics

iii) Toys made of clay: :: Woollen clothes : place utility

iv) Aggregate utility from all units consumed: Total utility:: Additional utility from last unit -

consumed :

v) Demand curve: :: Supply curve : upward

vi) Tea and coffee : :: Electricity : composite demand

vii) Relatively elastic demand : Ed > 1 : : Relatively inelastic demand :

viii) Steeper demand curve : Relatively inelastic demand :: Flatter demand curve:

ix) Total cost : TFC + TVC :: Average cost :

x) Expansion of supply : Price rises :: Contraction of supply :

xi) Perfect competition : Free entry and exit :: : barriers to entry

xii) Monopoly : Price discrimination :: product differentiation

xiii) : Base year price :: 1 : Current year price

xiv) Laaspeyre's index : :: Paasche's Index : Current year quantities

xv) : C + I + G + (X - M) : : GNP : C + I + G + X - M + (R - P)

xvi) Output method: :: Income method : Factor cost method

xvii) : Protection from external attacks :: Optional function : Provision of social security.

xviii) Income tax: Direct tax :: GST :

xix) : Commercial bank :: Credit control : Central bank

xx) Primary market : New issues launched to raise capital :: Old issues through - stock

Answer 2

Explanation:

Toys made of clay: :: Woollen clothes : place utility