State with reason whether you agree or disagree with the following statement:
Macro economics is different from micro economics.
Yes, I agree to it. Reasons :
(i) Macroeconomics is the study of entire economy whereas on the other hand, microeconomics is a study of the particular segment of an economy.
(ii) Macroeconomics studies aggregate demand, aggregate supply, national income, general price level, etc. On the other hand, micro economics studies individual demand, individual supply, individual income, price determination of particular product, etc.
(iii) Macroeconomics follows general equilibrium analysis. On the other hand, microeconomics follows partial equilibrium analysis.
(iv) Macroeconomics uses lumping method. On the other hand, microeconomics uses slicing method. Therefore, macroeconomics is different from microeconomics.