Identify the incorrect statement from the following.

Question

Option 1: In microeconomics, we study the behaviour of individual economic agents in the markets for different goods and services.

Option 2: In macroeconomics, we try to get an understanding of the economy as a whole by focusing our attention on aggregate measures such as total output, employment and aggregate price level.

Option 3: In macroeconomics, we are interested in finding out how the levels of aggregate macro measures are determined and how the levels of these aggregate measures change over time.

Option 4: In macroeconomics, we try to figure out how prices and quantities of goods and services are determined through the interaction of individuals in these markets.

AfterBoards · Accepted Answer

The answer is 'In macroeconomics, we try to figure out how prices and quantities of goods and services are determined through the interaction of individuals in these markets.'. View full solution:

List-I	List-II
(A) Macroeconomics	(I) We study the behavior of aggregate measures of the performance of the economy.
(B) Mixed economy	(II) All important decisions regarding production, exchange and consumption of goods and services are made by the government.
(C) Market	(III) Some important decisions are taken by the government and the economic activities are by and large conducted through the market.
(D) Centrally planned economy	(IV) A set of arrangements where economic agents can freely exchange their endowments or products with each other.

CUET Economics 2025 16 May Shift 1 PYQs

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