Example of micro economic variable is:

Wholesale price index

No worries! We‘ve got your back. Try BYJU‘S free classes today!

National income

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Market demand

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Aggregate demand

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D Market demand
Microeconomics is defined as "The study of the economic choices individuals and firms make and of how these choices create markets." Thus the study of microeconomics looks at specific markets individually and in great detail. Thus it will tend to examine micro variables such as the demand specific to a particular market or good. It will not be concerned with the aggregate market demand, or any other aggregate variables that treat the economy as one unit.

Suggest Corrections

Similar questions

State the following statements are true or false.
1) Macro-Economics is known as income analysis.
2) Increase in national income is a Micro- Economic goal.
3) Macro-Economic adopts lumping method.
4) Study of price determination is a subject matter of Macro-Economics.
5) Micro-Economics deals with the study of aggregates.
6) National output is an example of macro variable.

Q. Fill in the blanks with appropriate alternatives given in the brackets.

1) The terms Micro and Macro Economics were first used by _______________. (Adam Smith/ Robbins/ Ragner Frisch/ Marshall).

2) Micro Economics is a study of _________. (Whole economy/ general price level/ National output/ Individual economic unit).

3) Micro Economics is also called as ________________. (Income theory/ Price theory/ Growth theory/ Employment theory)

4) Micro Economic analysis adopts __________________ method. (lumping/ aggregative/ Slicing/ inclusive)

5) Micro Economics is a __________________________ equilibrium approach. (partial/ general/ total/ multi-variable).

The wholesale price index is used to forecast demand and supply scenario in an economy.

Q. Which of the following is not a variable of micro economics?

Q. Give reasons or explain the following statements.

1) Micro Economics is also known as price theory.

2) Micro Economics studies individual economic unit.

3) Micro Economics analyses partial equilibrium.

4) Micro Economic theories are based on certain assumptions.

5) Marginalism principle is used as a tool of analysis in micro economics.

Join BYJU'S Learning Program