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Characteristics of Equilibrium Constant

Micro economi...

Question

Micro economics is a _________ equilibrium analysis.

A

General

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B

Partial

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C

Semi-partial

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D

Aggregate

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Solution

The correct option is B Partial
Micro economy is study of demand and supply of particular commodity or service.
Partial equilibrium is a condition of economic equilibrium which takes into account only a part of the market to attain equilibrium.
Therefore it is right to state that micro economics is a partial equilibrium analysis.

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Similar questions

Q. Marco economics is a ________ equilibrium analysis.

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.

Q. Micro economics is a _________ equilibrium approach.

Q. Give reasons or explain the following statement.
Marginalism principle is used as a tool of analysis in Micro Economics.

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).

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