HSC Science (General) 12th Board ExamMaharashtra State Board
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Give Reasons Or Explain the Following Statements Microeconomics is Useful to the Government. - HSC Science (General) 12th Board Exam - Economics

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Question

Give reasons or Explain the following statements

Microeconomics is useful to the government.

Solution

Microeconomics proves helpful to the government in formulating price and employment policies. Microeconomic theories help in analysing the effectiveness and implications of various policies. It helps in the determination and adjustment of the foreign exchange rate, thereby, proves useful in the formulation of policies at the international front. In this way, it helps the government in planning. Moreover, microeconomic theories form the base for formulating policies with regard to social welfare.

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APPEARS IN

 2013-2014 (October) (with solutions)
Question 2.2.1 | 2.00 marks
Solution Give Reasons Or Explain the Following Statements Microeconomics is Useful to the Government. Concept: Micro Economics - Useful to Government.
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