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State Whether the Following Statement is True Or False. Micro Economics Studies Theory of Firm. - Economics

MCQ
True or False

State whether the following statement is TRUE or FALSE.

Micro Economics studies theory of firm.

Options

  • TRUE 

  • FALSE

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Solution

True

Microeconomics studies the behaviour of individual units. Accordingly, a firm being an individual unit, its behaviour is studied under microeconomics. Microeconomics studies prices of commodities and factors of production in both the consumer and factor markets.

Concept: Importance of Micro Economics
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Micro Economics
Exercise | Q 3.2 | Page 6
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