Topics: CH-1: Introduction, NCERT Books, Statistics for Economics

Three Parts of Economics

Question

Economics is often discussed in which three parts?

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Question (English)

Economics is often discussed in which three parts?

  1. Demand, Supply, Price
  2. Consumption, Production, Distribution ✓ Correct
  3. Import, Export, Trade
  4. Saving, Investment, Growth
Explanation:
Correct Answer Explanation

Economics is often discussed in three parts: Consumption, Production, and Distribution.

Key Points:
  • Consumption: How the consumer decides what to buy given income and prices.
  • Production: How the producer chooses what and how to produce.
  • Distribution: How national income (GDP) is distributed through wages, profits, and interest.
Why Other Options Are Wrong
  • A, C, D: The three conventional divisions are consumption, production, and distribution.

📚 About this Topic — CH-1: Introduction

This multiple choice question is from CH-1: Introduction, NCERT Books, Statistics for Economics. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: Introduction to strengthen your preparation.

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