Answer to Question #36511 in Microeconomics for lasisi

Question

what do you understand by economic theory?

a. principles of business communication and economic actors
b. principles and forms of business
c. process of goods production
d. functional mechanism in an economic system

Answer 1

Economic theory is a theory of commercial activities (such as the production and consumption of goods). It studies the main principal, factors and forms of economy at all and business in particular. So, the right answer is b. principles and forms of business