Question

State with reasons whether you agree or disagree with the following statement:

Theory of welfare economics is studied in microeconomics.

विकल्प

• Agree

• Disagree

Answer 1

I Agree with this statement.

Reasons:

1. Efficiency in production: The ability to generate the greatest number of items from the available resources is known as efficiency in production. Microeconomics examines the methods for achieving manufacturing efficiency.
2. Efficiency in consumption: The distribution of generated products and services among individuals for consumption in a way that maximises societal satisfaction is known as efficiency in consumption. Microeconomics examines the methods for achieving consumption efficiency.
3. Overall economic efficiency: The production of products that people in society want most is what is meant by overall economic efficiency. The study of microeconomics examines methods for achieving overall economic efficiency.