Question

Identify and explain the following concept:

Raju collected the information about the total consumption, total savings, and total investment of the Indian economy.

Answer 1

Identified concept: Macroeconomics

Explanation of concept: Macroeconomics is the study of how the economy works as a whole. For instance, macroeconomics looks at large parts of the economy, such as total demand and supply, total expenditure, total savings, total investment, and so on.