Question

State with reason whether you agree or disagree with the following statement:

Micro economics uses slicing method.

Options

• Agree

• Disagree

Answer 1

Yes, I agree with the statement. 

Explanation:

1. Micro economics is a branch of modern economics.
2. It deals with a small part of the national economy.
3. It studies the individual economic units such as an individual consumer, individual producer, individual firm, the price of a particular commodity or a factor, etc.
4. Micro economics splits or divides the economy into small individual units and then studies each unit separately in detail.
5. E.g.
   a. Study of individual income out of national income.
   b. Study of individual demand out of aggregate demand, etc.