Class 12th Chapter 1 Introduction of Macroeconomics And Microeconomics

Introduction of Macroeconomics

Very Short Question Answers.”

Question 1:- What is macroeconomics?
Ans-Macroeconomics deals with economics Issue or problems at the level of the en economy. as a whole.

Class 12th Chapter 1 Introduction of Macroeconomics And Microeconomics

Question 2:-Define macroeconomic variables.

Ans-Macroeconomic variable are those economy ae a whole.

Ex- Aggregate demand.

Question:-3 Define economic agents?

ANS=Economic agents are the indivi-duals or institution who take econo mic decisions.

Question 4:- what is meant by partial equilibrium?

Ans-Referee to Partial equilibrium matere ty equilibrium one market say. an the Commodity assumption that there is no other moukets chenge Ex – labour markets or Capital market

Short Question Answers

Question 1:- Distinguish between microeconomics and Macroeconomics
Ans-A- Microeconomics –

(i) Microeconomics Studies economic or economics problems at issues the level of an individual an. Individual firm, om individual household or an individual Consumer

(ii) Allocation of resources to different uses is the central issue in microeconomics

(iii) There is a limited limited degree of agree.. economier potion in microeconomies

Ex-We study our bat behaviour of an which of all the first producing fo particulate com Commodity

Macroeconomics
(i)Macroeconomics Studies economic Issues or economic problems at the level of an economy as a whole.

(ii) Determination of the overall output If the level of output  issue in macroeconomy

(iii)There is a greater d of aggregation in macroeconomics

Ex-we Study national out put which is aggregate of out put of all the products. on white is theec economy.

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