What is the fallacy of composition? Give an economic and a non-economic example

Please provide the best answer for the statement.

It is the incorrect reasoning that what is true for an individual (or part of a group) is necessarily true for the whole group. Or, what is true at the micro level of analysis may not be true at the macro level of analysis. Economic example: when an individual farmer produces a large crop, then the farmer should have an increased income because he or she has more output to sell. If, however, all farmers produce more output, then the increase in output may decrease prices and reduce farm income. Non-economic example: If a spectator at a packed basketball arena stands up, then he or she will likely see the game better. If, however, all spectators at the game stand up, then the group of spectators as a whole will not be able to see the game better.

Economics

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Which economist introduced the simple trade model and the concept of trade based on comparative advantage?

What will be an ideal response?

Economics

Discuss the different effects on the domestic interest rates when prices are assumed flexible and when they are assumed to be sticky

What will be an ideal response?

Economics