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Do You Agree with the Following Statement? Give Reason. Macro-economics is Individualistic - Economics

Answer in Brief

Do you agree with the following statement? Give reason.

Macro-Economics is individualistic

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Solution

The above statement is not correct. Macroeconomics is not individualistic as it does not study only one individual consumer or one individual producer. In fact, macroeconomics studies the behaviour, problems and the economic situation of all the consumers at a time. In other words, it can be said that macroeconomics involves aggregation of all the consuming units.

Concept: Allocation of Resource and Economic Variable
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 8 Introduction to Macro Economics
Exercise | Q 1.3 | Page 69
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