State whether the following statements are True or False: 1. Dr.

State whether the following statements are True or False: 1. Dr. Marshall is known as the ‘Father of Economics’.2. Micro economics studies theory of firm.3. Micro economics deals with allocation of resources.4. Micro economic theory assumes full employment.5. Micro economic theory suggests policies to solve problem of inflation.6. Boulding is the real architect of Micro Economics.7. Dr. Marshall is a neo‐classical economist.8. Micro approach is a relatively modern approach.9. Slicing method splits the economy into small individual units.10. Marginal means change in total by additional unit.11. Chamberlin participated in the development of micro economics.12. Theory of supply is a part of factor pricing.13. Micro economics is the study of aggregates14. Price Theory is the base of Micro‐economic analysis.

Answer»

1. False

2. True

3. True

4. True

5. False

6. False

7. True

8. False

9. True

10. True

11. True

12. False

13. False

14. True