1.

Distinguish between the Slicing method and Lumping method.

Answer»
S. NoSlicing MethodLumping Method
(i)In slicing method the entire economy is cut into small individual slices.In lumping method the whole economy will be studied.
(ii)Microeconomics uses the slicing method.Macroeconomics uses the lumping method.
(iii)In slicing method indepth study of individual unit is done.In lumping method indepth study of whole economy is done.


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