state the scope of macroeconomics? how does it differ from microeconomics.

Expert Solution

Answer : 1) Scope of macroeconomics : The macroeconomics study the aggregate and average of whole economy. It study the national income, employment and unemployment, inflation, aggregate supply, aggregate demand and functions of money. This is the scope of macroeconomics.

2) The scope of macroeconomics is different from microeconomics. Because microeconomics study the individualistic economic behaviour whereas macroeconomics study the aggregate and average of whole economy. Microeconomics study the consumer behaviour, buyers' decision to purchase, determination of market price and firm's profit. Whereas macroeconomics study the national income, employment and unemployment, inflation, aggregate supply, aggregate demand and functions of money. Thus, the scope of macroeconomics is different from microeconomics.

Rahul Sunny answered 2 years ago

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