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Give Reason Or Explain the Following Statement Macro-economics is the Study of Aggregates. - Economics

Short Note

Give reason or explain the following statement

Macro-Economics is the study of aggregates.

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Solution

Macroeconomics is the study of aggregates; as it studies the economy as a whole, rather than the individual economic units as  a consumer or a producer. It studies the aggregates such that they cover the entire economy. For instance, it studies national income rather than individual income. Similarly, it studies aggregate price levels rather than price level of a particular commodity.

Concept: Meaning and Features of Macro Economic
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 8 Introduction to Macro Economics
Exercise | Q 2.1 | Page 68
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