GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Slicing method
|
|
|
Bulldozer method
|
|
|
Micro-macro method
|
|
|
Micro foundation of macro method
|
Detailed explanation-1: -Slicing Method: Microeconomics uses the slicing method. It splits or divides the whole economy into small individual units and then studies each unit separately in detail. Use of Marginalism Principle: Marginal analysis helps to study a variable through the changes.
Detailed explanation-2: -The slicing method is a method of economic analysis used in microeconomics for in-depth study of economic units. In this method, the economy is divided or ‘sliced’ into smaller units like individual households, individual firms etc.
Detailed explanation-3: -Microeconomics uses slicing method for the in-depth study of economic units. It divides or slices the economy into smaller units such as individuals, household firms etc.
Detailed explanation-4: -Little-picture microeconomics is concerned with how supply and demand interact in individual markets for goods and services. In macroeconomics, the subject is typically a nation-how all markets interact to generate big phenomena that economists call aggregate variables.