Maharashtra State BoardHSC Commerce 12th Board Exam
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State with reason whether you agree or disagree with the following statement: Macro economics is different from micro economics. - Economics

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Answer in Brief

State with reason whether you agree or disagree with the following statement:

Macro economics is different from micro economics.

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Solution

Yes, I agree with the above statement.

Reason:

  1. Macro economics is the study of the entire economy whereas, on the other hand, micro economics is a study of a particular segment of an economy.
  2. Macro economics 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 a particular product, etc.
  3. Macro economics follows general equilibrium analysis. On the other hand, micro economics follows partial equilibrium analysis.
  4. Macro economics uses the lumping method. On the other hand, micro economics uses the slicing method. Therefore, macro economics is different from micro economics.
Concept: Macro Economics
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 1 Introduction to Micro and Macro Economics
Exercise | Q 5. (3) | Page 7
SCERT Maharashtra Question Bank 12th Standard HSC Economics Maharashtra State Board 2021
Chapter 1 Introduction to Micro and Macro Economics
State with reasons whether you agree or disagree with the following statements | Q 2
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