Question

distinguish between slicing method and lumping method​

Answer 1

Explanation:

The slicing method is a method of economic analysis used in microeconomics for in-depth study of economic units. ... The lumping method is a method of economic analysis used in macroeconomics to study the economy as a whole.

Answer 2

Slicing and Lumping methods provide an overview and analysis of the economic situation of a country from micro and macro perspectives.

Explanation:

Difference between Slicing and Lumping Methods:-

1. Slicing method is related to micro analysis of the economy which involves fragmentation of the entire economic machinery into small components for a more detailed and minute understanding.In contrast,Lumping method is associated with a comprehensive analysis of the economic components from a more broader perspective.Hence, it involves a macro level study of the economy.
2. Slicing method is most commonly used in Microeconomics and Lumping method in Macroeconomics.
3. Slicing method focuses on the study of individual units of the economy such as individual market, individual good or product,individual consumer etc.On the other hand,Lumping method provides a more in depth and detailed evaluation of the aggregate units of the economy such as National Income,Aggregate Demand, Aggregate Supply,Real GDP and so forth.