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Price theory is also known as _______.
  • a)
    Public Economics
  • b)
    Micro Economics
  • c)
    Macro Economics
  • d)
    Development Economics
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Price theory is also known as _______.a)Public Economicsb)Micro Econom...
  • Price theory is also known as micro-economics
  • It is concerned with the economic behaviours of consumers and producers and it helps us understand the pricing, allocation, production, and consumption of goods and services.
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Most Upvoted Answer
Price theory is also known as _______.a)Public Economicsb)Micro Econom...
  • Price theory is also known as micro-economics
  • It is concerned with the economic behaviours of consumers and producers and it helps us understand the pricing, allocation, production, and consumption of goods and services.
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Directions:In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.The mainstream liberal economic theory, which _________ that the invisible hand of the market will necessarily guarantee the rational and __________ allocation of resources within society, has been called into question in recent decades by proponents of ecological economics. Undermining the very __________ upon which the classical theory rests, those who have challenged it point to endemic market failures rooted in externalities, the costs or benefits of economic transactions that are not reflected in the price mechanism. The existence of unaccounted-for externalities, these critics say, prevents markets from realizing their functions _________. In effect, many of the __________ outcomes of economic activity can be attributed to such hidden costs.Q. Undermining the very __________ upon which the classical theory rests

Directions:In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.The mainstream liberal economic theory, which _________ that the invisible hand of the market will necessarily guarantee the rational and __________ allocation of resources within society, has been called into question in recent decades by proponents of ecological economics. Undermining the very __________ upon which the classical theory rests, those who have challenged it point to endemic market failures rooted in externalities, the costs or benefits of economic transactions that are not reflected in the price mechanism. The existence of unaccounted-for externalities, these critics say, prevents markets from realizing their functions _________. In effect, many of the __________ outcomes of economic activity can be attributed to such hidden costs.Q. In effect, many of the __________ outcomes of economic activity

Directions:In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.The mainstream liberal economic theory, which _________ that the invisible hand of the market will necessarily guarantee the rational and __________ allocation of resources within society, has been called into question in recent decades by proponents of ecological economics. Undermining the very __________ upon which the classical theory rests, those who have challenged it point to endemic market failures rooted in externalities, the costs or benefits of economic transactions that are not reflected in the price mechanism. The existence of unaccounted-for externalities, these critics say, prevents markets from realizing their functions _________. In effect, many of the __________ outcomes of economic activity can be attributed to such hidden costs.Q. which _________ that the invisible hand of the market

Price theory is also known as _______.a)Public Economicsb)Micro Economicsc)Macro Economicsd)Development EconomicsCorrect answer is option 'B'. Can you explain this answer?
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