Do you agree with the following statements? Give reasons. ii) Micro Economics is known as income theory.

Do you agree with the following statements? Give reasons.

ii) Micro Economics is known as income theory.

ANSWER:

Micro Economics is known as income theory - False

No, microeconomics is not known as the income theory, rather ,it is known as the price theory, as it focuses on determining the prices of commodities and factors of production in the market.

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