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Answer : 3. "Theory of price"
What else is micro economics called?
5Q:
What else is micro economics called?
- 1Income theoryfalse
- 2Principle of investmentfalse
- 3Theory of pricetrue
- 4Principle of Expenditurefalse
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Answer : 3. "Theory of price"
Explanation :
Micro economics is also known as Price theory because it takes into account the demand and supply of individual units and thus aims to determine the price of a product using the factors of production.