Ans.
Yes, I agree with this statement.
i. The term Micro Economics is derived from the Greek
work “Mikros” which means “Small”. Micro
economics gives a detailed analysis of one part of the economy or society. It
studies the behaviour of individual units of the economy, such as households,
firms, industries and markets.
ii. Micro economics is concerned with the study of
behaviour of individual element(s) of an economy, whereas, macro economies
concerned with the study of behaviours of an economy as whole.
iii. Micro-economics gives a microscopic picture of
the economy. The activities of numerous economic units and their
inter-relationship are studied and analysed minutely through this method.
