Question : Microeconomics is also called:
Option 1: Income theory
Option 2: Investment theory
Option 3: Price theory
Option 4: Expenditure theory
Correct Answer: Price theory
Solution : The correct option is the Price theory.
Microeconomics is price theory since it focuses on the behaviour of individual economic agents (such as customers, businesses and markets) and how their interactions affect prices in marketplaces. This is in contrast to macroeconomics, which examines the economy as a whole and elements like inflation, unemployment and overall economic production.
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