Microeconomics is a study of __________.

An individual economic unit

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Whole economy

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General price level

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National output

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Solution

The correct option is A An individual economic unit
Study of macroeconomics involves the study of the economy as a whole considering all large factors whereas Microeconomics is a study of an individual economic unit. It is a narrower concept including only individual factors of any firm, company.

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Similar questions

Q. Individual demand is a concept related to microeconomics, while market demand is a concept related to macroeconomics.

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).

Q. Which of the following is defined as branch of economic analysis that studies the economic behavior of the individual unit, a particular household, or a particular firm?

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. Match the pairs.

	Group "A"		Group "B"
(1)	Microeconomics	(a)	Wealth of Nations
(2)	Macroeconomics	(b)	Price theory
(3)	Adam Smith	(c)	Social Science
(4)	Alfred Marshall	(d)	Smallest unit
(5)	Economics	(e)	Rationality
		(f)	Wastage
		(g)	Income theory

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Microeconomics is a study of __________.

The correct option is A An individual economic unitStudy of macroeconomics involves the study of the economy as a whole considering all large factors whereas Microeconomics is a study of an individual economic unit. It is a narrower concept including only individual factors of any firm, company.

The correct option is A An individual economic unit
Study of macroeconomics involves the study of the economy as a whole considering all large factors whereas Microeconomics is a study of an individual economic unit. It is a narrower concept including only individual factors of any firm, company.