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The scope of micro economics is unlimited.

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State with reasons whether you agree or disagree with the following statements :

The scope of micro economics is unlimited.

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No, I do not agree with this statement.

  • Micro economics deals with small or individual units.
  • Micro economics is the study of particular firm, particular household, individual prices, wages, incomes, individual industries, particular commodities.
  • Micro economics deals with small part of National economy. It does not deal with whole economy like National income, Aggregate demand, Aggregate supply, poverty, inflation, etc.
  • Hence, the scope of micro economics is limited. 
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