Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
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Chapter 1 - Introduction to Micro and Macro Economics [Loading year... edition]
Q.5. State with reason whether you agree or disagree with the following statement:
"Micro Economics is known as income theory."
No, I Disagree with the above statement.
Reason:
Microeconomics: It is that part of economics that deals with the individual units of the economy.
No, microeconomics is not known as the income theory, rather, it is known as the price theory.
This is because it focuses on determining the prices of commodities and factors of production in the market.