Question

gauri collected the information about the income of a particular firm

Answer 1

Answer: study of individual units

Explanation:

Study of individual units explains the study or information related to the price of the firm and income of the particular firm.

Here Priya is collecting information about the income of the particular firm

Answer 2

Gauri is collecting information regarding the financial behavior and working of the individual unit. It is concept that comes under the study of microeconomics.

Explanation:

• The study of individual firms is part of Microeconomics which helps to understand the income generated by the firm. It helps in giving a detailed analysis on the working of the firm, the demand and supply of the firm and the revenue and profit generated by the firm. It  gives information regarding the conditions under which the firm was able to generate its level of efficiency.
• The analysis is done through the information gathered regarding the production capacity of the firm, the prices of goods and the demand of products in the market. These are dependent on the various factors of production and their efficiency in production
• Microeconomics gives an account of the profits and income generated by the firm. It gives an account of the total output generated from the optimum resources and the level of employment of the company.  

To know more about Microeconomics

Micro economics and macro economics difference

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