Micro economics is known as income theory
Answers
Answer:
Micro Economics is known as income theory -
False. No, microeconomics is not known as the income theory, rather ,it is known as the price theory, as it focuses on determining the prices of commodities and factors of production in the market.
Explanation:
right ans: micro economic is called price theory
because it is primarily concerned with determination of price of goods and factors of production
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Answer:
It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. It aims to determine the national income and employment levels in the country. And thus that is why it is called the Income theory
Explanation:
Macroeconomics is concerned with the economic issues of a country which occur on a national scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. It aims to determine the national income and employment levels in the country. And thus that is why it is called the Income theory.