GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The terms ‘microeconomics’ and ‘macroeconomics’ were coined by ____
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Prof. Ragnar Frisch
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Prof. Paul Samuleson
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Prof. Alfred Marshall
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Prof. Lionel Robbins
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Explanation:
Detailed explanation-1: -Ragnar Anton Kittil Frisch was a Norwegian economist . He coined the term micro economics and macro economics .
Detailed explanation-2: -Ragnar Frisch, along with Jan Tinbergen, pioneered development of mathematical formulations of economics. He coined the term econometrics for studies in which he used statistical methods to describe economic systems.
Detailed explanation-3: -The term “Microeconomics” was coined by Ragnar Frisch in the year 1933. It is one of fields in economics that deals with the study of individual units in the economy.
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