alleryStart learning →Who coined the words 'micro' and 'macro' in economics, in the year 1933?
ARagnar Frisch
BAdam Smith
CJ. M. Keynes
DKarl Marx
Answer & Solution
Correct answer: A. Ragnar Frisch
1. Economics is classified into two branches, micro economics and macro economics.
2. Ragnar Frisch, a Norwegian economist, coined the words micro, meaning small, and macro, meaning large, in the year 1933.
3. He was a co-recipient of the first Nobel Prize in Economic Sciences.
4. Keynes shaped modern macro economics but did not coin the term, and Smith and Marx belong to the discussion of economic systems.
_Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 1 "Introduction to Macro Economics", §1.1_
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