State with reason whether you agree or disagree with the following statement Macroeconomics is different from microeconomics

Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board 

 

Chapter 1 - Introduction to Micro and Macro Economics [Latest edition]

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

Macroeconomics is different from microeconomics.

Options

Agree

Disagree

Yes, I agree with the above statement. 

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 a lumping method. On the other hand, microeconomics uses slicing methods. Therefore, macroeconomics is different from microeconomics.