GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Microeconomics is also called as
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Individual theory
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Wealth theory
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Price theory
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None of the above
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Explanation:
Detailed explanation-1: -Microeconomics studies the study of economics from the view point of an individual unit. Price theory studies how prices of goods are determined in the commodity market and how process of factors of production are determined in the factor market. Thus micro economics is also known as price theory.
Detailed explanation-2: -Price theory is also known as microeconomics. Price theory explains the production, consumption, allocation, and pricing of goods and services.
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