Question

Micro Economic analysis adopts ________ Method (lumping / aggregative / Slicing / inclusive). Fill in the blank with appropriate alternative given in the bracket.

Answer 1

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Micro economic analysis adopts silcing methods.

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Answer 2

Answer:

The method adopted by micro economics analysis is __ Slicing__.

To study the units of economics in depth, slicing method is being used in microeconomics. Slicing is splitting of larger units into smaller units, likewise the economy is being divided into smaller entities like firms, households individually.

Splicing method is different from lumping method as, lumping method is used in macroeconomics where big sectors or groups are created for detailed study unlike splicing method in microeconomics.