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Give Reason Or Explain the Following Statement the Scope of Macro-economics is Wide. - Economics

Short Note

Give reason or explain the following statement

The scope of Macro-Economics is wide.

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Solution

Macroeconomics is said to have a wide scope as it deals with aggregates for the economy as a whole. Some of the aggregates that are studied in macroeconomics are national income, general price level, employment, investment, etc. Macroeconomics aims at studying the interrelationship between such aggregates and accordingly determine the cause and effect of variations in them. Thus, it can be said that it studies the various economic units in aggregate terms.

Concept: Improtance 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 2.3 | Page 68
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