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Microeconomics

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Question

Give Reasons.
Micro Economics deal with the study of individual units

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Solution

Microeconomics
1. It is that part of economics which deals with the individual units of the economy.
2. It takes into account the demand and supply of individual units.
3. It aims to determine the price of a product using the factors of production.
4. Example: Individual income and Individual output.

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Similar questions

Q. Explain with reasons whether you agree or disagree with following statements.
Macro-Economics deals with the study of individual behaviour. Or
Macro-Economics studies small units.

Q. Do you agree with the following statements? Give reasons.

1) The scope of Macro-Economics is wide.
2) Macro-Economics deals with the study of individual behavior.
3) Macro-Economics is individualistic
4) Macro-Economics is different from Micro-Economics.
5) Macro-Economics is a partial equilibrium analysis.

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Micro Economics studies behaviour of individual economic unit.

Q. Which economics deals with the study of behaviour of individual decision making units?

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.

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