Question 21 of 41
Q.Macro economics is different from micro economics.
(a) Agree
(b) Disagree
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2023MCQ· 4mImportance★★★★★
51% · 21/41 Questions
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Start your 14-day free trial to unlock the full solution →Agree. Microeconomics studies individual units (a consumer, firm, single market) using the slicing method, while macroeconomics studies the whole economy and aggregates (national income, total employment, general price level) using the lumping method. Their scope, method and central problems differ, so they are distinct.
The statement is correct and should be agreed with, because the two branches differ in several respects.
| Basis | Microeconomics | Macroeconomics |
|---|---|---|
| Meaning | Studies the behaviour of individual economic units | Studies the economy as a whole |
| Subject matter | Individual demand, supply, price of a good, a firm's output | National income, total employment, general price level, aggregate demand |
| Method | Slicing method (partial equilibrium) | Lumping method (general equilibrium) |
| Central problem | Price determination and resource allocation | Determination of income and employment |
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