define lumping method
Answers
Answered by
6
Answer:
It splits up the entire economy into small individual units. It splits up the entire economy into big lumps (sectors). It is used in microeconomics for intensive study. It is used in macroeconomics for intensive study.
may this help you
mark as brainliest
follow me for more answers
Answered by
3
Answer:
It divides or slices the economy into smaller units, (such as individual households, individual firms, etc) for the purpose of in-depth study. Macroeconomics uses lumping method for the purpose of economic study. Under lumping method we study the general price level, and not prices of individual products.
✅✔I hope the answer will help you. ☺☺☺
✔✅Follow me and mark as brainliest. ☺☺☺
Similar questions