Distinguish between : Slicing method and Lumping method
Q.2 (B) (i) Distinguish between : Slicing method and Lumping method
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| Slicing method | Lumping method | |
|---|---|---|
| 1. Meaning | The economy is divided into small, individual units (slices) and each is studied separately. | The economy is studied as a whole by taking totals (lumps) of all units. |
| 2. Used in | Micro economics. | Macro economics. |
| 3. Scope | Narrow: an individual consumer, firm, household or commodity price. | Wide: national income, total employment, general price level, aggregate demand and supply. |
| 4. Example | Study of demand for a particular commodity by a consumer. | Study of total consumption or national income of India. |
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· 29 Oct 2026
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