Maharashtra State BoardHSC Arts 12th Board Exam
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State Whether the Following Statement is True Or False. Micro Economic Theory Assumes Full Employment. - Economics

MCQ
True or False

State whether the following statement is TRUE or FALSE.

Micro Economic theory assumes full employment.

Options

  • TRUE

  • FALSE

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Solution

True

The microeconomic theory is based on many assumptions such as full employment, perfect competition and a laissez-faire style of working. However, these assumptions may not always exist in reality and, consequently, make the validity of microeconomics doubtful.

Concept: Assumption of Micro Economic Analysis
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Micro Economics
Exercise | Q 3.4 | Page 6
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