Question

In the following Question, read the following statements and choose the correct alternative:

Statement 1: Microeconomics aims to determine price of a commodity or factors of production.

Statement 2: Microeconomics is also known as Income and Employment Theory.

विकल्प

• Both the Statements are true.

• Both the Statements are false.

• Statement 1 is true and Statement 2 is false.

• Statement 2 is true and Statement 1 is false.

Answer 1

Statement 1 is true and Statement 2 is false.

Explanation:

Microeconomics aims to determine the prices of commodities and factors of production, so it is known as Price Theory. Income and Employment Theory is another name for macroeconomics.