What Is the Meaning of Micro and Macro Economics?

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Solution

Microeconomics refers to the study of individuals and business decisions while macroeconomics refers to the study of decision making by government and countries.

Also see: Difference between Microeconomics and Macroeconomics

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Q. Give reasons or explain the following statements

1) Macro-Economics is the study of aggregates.
2) Macro-Economics is also known as income and employment theory.
3) The scope of Macro-Economics is wide.
4) Macro-Economics deals with whole economy.
5) Macro-Economics is different from Micro-Economics.

Q. Do you agree with the following statements? Give reasons.

1) The scope of Macro-Economics is wide.
2) Macro-Economics deals with the study of individual behavior.
3) Macro-Economics is individualistic
4) Macro-Economics is different from Micro-Economics.
5) Macro-Economics is a partial equilibrium analysis.

State the following statements are true or false.
1) Macro-Economics is known as income analysis.
2) Increase in national income is a Micro- Economic goal.
3) Macro-Economic adopts lumping method.
4) Study of price determination is a subject matter of Macro-Economics.
5) Micro-Economics deals with the study of aggregates.
6) National output is an example of macro variable.

Q. Give comparison between Micro and Macro Economics.

Q. Give Reasons or explain the following statements.
Macro Economics is different from Micro Economics. Or Macro Economics is wider than Micro Economics.

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What Is the Meaning of Micro and Macro Economics?

Microeconomics refers to the study of individuals and business decisions while macroeconomics refers to the study of decision making by government and countries. Also see: Difference between Microeconomics and Macroeconomics

Microeconomics refers to the study of individuals and business decisions while macroeconomics refers to the study of decision making by government and countries.

Also see: Difference between Microeconomics and Macroeconomics