Q1 of 20 Page 213

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The word ‘Economics’ originates from the Greek root words…………and…………….

Oikos and Nomos

Oikos translates to household and nomos to management. Hence economies are the study of house hold management, with limited resources and choices to make.


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1

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The basic economic problems of every individual is ________ and __________ .

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The activities that generate income are _____________ .

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Micro Economics is the study of units.

 1

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Macro Economics is the study of units.