Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Introduction

Question:

Which of the following is studied under micro economics ?

Options:

National Income of a country

Condition of unemployment

Textile industry

Revenue deficit of the country

Correct Answer:

Textile industry

Explanation:

The correct answer is option (3) :Textile industry

Microeconomics focuses on the behavior of individual agents, such as consumers, firms, and industries, and how their decisions influence the allocation of resources in specific markets. The textile industry is a specific market where individual firms operate, producing and selling textile products. The analysis of production, costs, pricing, market structure, and competition within the textile industry falls under the purview of microeconomics.

National income, unemployment conditions, and revenue deficit are usually studied under macroeconomics, which deals with the economy as a whole.