Question

Do you agree with following statements? Give reasons.
a) Micro Economics studies behavior of individual economic units.
b) Micro Economics uses slicing method.

Answer 1

Yes, I agree with the statements.

Microeconomics: It is that part of economics which deals with the individual units of the economy. It takes into account the demand and supply of individual units. It uses slicing method because it divides the economy in slices, parts or individual units for the purpose of in-depth study.