Revision Notes For Class 12 Economics Macroeconomics Chapter 1 Introduction

Macroeconomics is a branch of economics that deals with the comprehensive economic variables of the economy. This chapter provides a brief introduction to the concept Macroeconomics. A few important points are given here – meaning of macro economics, capitalist country, wage rate, wage labour, great depression, entrepreneurs, revenue, investment expenditure.

Macroeconomics is the branch of economics that studies the performance and behavior of an economy as a whole. It focuses on the comprehensive changes in the economy such as growth rate, unemployment, inflation, and gross domestic product (GDP).

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