Bird
0
0

Which of the following pairs correctly matches a concept with its respective branch of economics?

hard Q10 of 15
Economic Awareness - Sectors of Indian Economy
Which of the following pairs correctly matches a concept with its respective branch of economics?
APhillips Curve - Microeconomics
BAggregate Supply - Macroeconomics
CLaw of Demand - Macroeconomics
DConsumer Surplus - Macroeconomics
Step-by-Step Solution
  1. Step 1: Identify branch of each concept

    Phillips Curve and Aggregate Supply are macroeconomic concepts. Law of Demand and Consumer Surplus belong to microeconomics.
  2. Step 2: Analyze options

    Phillips Curve is macroeconomic, so Phillips Curve - Microeconomics is incorrect. Law of Demand is microeconomic, so Law of Demand - Macroeconomics is wrong. Aggregate Supply is macroeconomic, making Aggregate Supply - Macroeconomics correct. Consumer Surplus is microeconomic, so Consumer Surplus - Macroeconomics is wrong.
  3. Step 3: Confirm correct match

    Aggregate Supply is a macroeconomic aggregate representing total output at different price levels.
  4. Final Answer:

    Aggregate Supply - Macroeconomics → Option B
  5. Quick Check:

    Aggregate Supply = Macroeconomics ✅
Quick Trick: Remember Phillips Curve and Aggregate Supply are macro concepts
Common Mistakes:
MISTAKES
  • Misclassifying Law of Demand and Consumer Surplus as macro concepts
Master "Sectors of Indian Economy" in Economic Awareness

Start learning the concept with an interactive lesson.

Want More Practice?

15+ quiz questions · All difficulty levels · Free

Free Signup - Practice All Questions
More Economic Awareness Quizzes