Question

write true or false with a reason.......

1) problem of choice is the basic economic problem.
2) study of cotton textile industry is a microeconomic study.​


plzzzz answerr fast...​

Answer 1

Answer:

1. false
2. true

Explanation:

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Answer 2

Answer:

1) false

2) true

1) reason : The Problem of Choice: ... Therefore, scarcity of resources gives rise to the fundamental economic problem of choice. As a society cannot produce enough goods and services to satisfy all the wants of its people, it has to make choices. A decision to produce one good requires a decision to produce less of some other good.

2)micro economy studies behavior of a particular firm where as macro economy studies about the industrywhere industry means summation of all individual firms of the economy. Explanation: The study of cotton textile industries is a macroeconomicsstudy.

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