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Vipin Sing

· started a discussion

· 1 Months ago

Explain (Question:358217.0)

Allocation of resources... Overlaps b/w macro and micro..... Either ... option D ... Or... Macroeconomics is more appropriate.......please explain how it's subject matter of Microeconomics????

Question:

The branch of economic theory that deals with the problem of allocation of resources is:

Options:
A)

micro-economic theory 

B)

macro-economic theory

C)

econometrics 

D)

none of the above

Solution:

Ans: (a)

Knowledge Expert

· commented

· 1 Months ago

Dear Student
The given answer is correct (a)
“Microeconomics consists of looking at the economy through a microscope, as it were, to see how the millions of cells in the body economic-the individuals or households as consumers, and the individuals or firms as producers—play their part in the working of the whole economic organism.”- Professor Lerner.
and by actually studying this wholesome theory we can accordingly allocate the resources elsewhere to catalyze the efficiency of work output or to produce an environment pertaining to the environment providing sufficient accessibility of resources and the work we can derive out of them
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TR
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