A Sub-Discipline of Economics That Looks at the Economy as a Whole

question 188

Multiple Choice

A sub-discipline of economics that looks at the economy as a whole is:

• A) macroeconomics.
• B) microeconomics.
• C) positive economics.
• D) normative economics.
• E) impossible to model.

---

Definitions:

Economical

Characterized by efficiency and avoidance of waste, in terms of both cost and resources.

Successful MRP Use

Refers to the effective application of Material Requirements Planning, a system for planning production and inventory control, to ensure timely availability of materials while minimizing inventory costs.

Materials Plan

A comprehensive strategy for managing the procurement, storage, and use of materials needed in the manufacturing process.

Record Integrity

Ensuring that records are accurate, consistent, and maintained in such a way that their completeness and original state are preserved over time.