Share
Notifications

View all notifications
Advertisement

State with reason whether you agree or disagree with the following statement: Macro economics is different from micro economics. - Economics

Login
Create free account


      Forgot password?

Question

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

Macro economics is different from micro economics.

Options
  • Agree

  • Disagree

Solution

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.

  Is there an error in this question or solution?
Advertisement

APPEARS IN

 Balbharati Solution for Economics HSC 12th Standard Maharashtra State Board (2020 (Latest))
Chapter 1: Introduction to Micro and Macro Economics
Exercise | Q: 5.3 | Page no. 7
 2017-2018 (March) (with solutions)
Question 2.2.4 | 2.00 marks
Advertisement
State with reason whether you agree or disagree with the following statement: Macro economics is different from micro economics. Concept: Macro Economics.
Advertisement
View in app×