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Question
State whether the following statement is TRUE or FALSE.
Micro Economics deals with allocation of resources.
Options
TRUE
FALSE
MCQ
True or False
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Solution
True
Microeconomics explains the optimum allocation of resources. It explains the distribution of resources among the competing groups in a manner that ensures their efficient usage; that is, there is minimum wastage of resources. In other words, it explains us how these scarce resources should be distributed so that they can be utilised to the fullest.
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