Explain: -In 1933, Ragnar Frisch firstly used the words “Micro” and “Macro”

The Malthusian theory explained that the human population grows more rapidly than the food supply until famines, war or disease reduces the population. He believed that the human population has risen over the past three centuries.

Explain: -Rent is a cost paid for land as wages and interest are paid  for labour and capital respectively.

Explain: -Intensive industry are those industries which need large amount of capital for investment.

Explain: -The Social Accounting system in India is classified into income, Product and Expenditure Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations.