--%>
Assignment Help - homework help

Micro economics and macro economics

Micro economics and macro economics:

Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.

In microeconomics, we deal with troubles like the output of a single firm or industry, price of a single commodity & spending on goods by a single household.

Macroeconomics studies the economic system as an entire. In it, we acquire a complete picture of the working of the economy. It is a study of relations among broad economic aggregates like net employment, saving and investment. We might also say that macro economics is the theory of employment, income, prices and money. That is why macroeconomics is at times studied beneath the title “Income and Employment Analysis”.

   Related Questions in Business Economics

  • Q : Self-interested motivation to underpin

    Adam Smith’s perception which self-interested motives underpin even charitable activities through apparently selfless people appeared originally into his primary major book that was entitled: (1) Theory of Moral Sentiments [1755]. (2) Leviathan

    		•
  • Q : Loathed monopolization and viewed of

    Adam Smith and most of the typical economists who followed instantly in his footsteps: (i) viewed monopoly as no big problem. (ii) encouraged monopolies due to their research and development abilities. (iii) thought monopoly power was a communist plot

    		•
  • Q : Describe what do you mean by European

    Describe what do you mean by European Union (EU)?

    		•
  • Q : Economic sense production methods

    Evaluate and explain the statements: “In the economic sense production methods are the most efficient methods, once resource prices are considered and are lesser in sense of engineering”.

    		•
  • Q : Generalization and abstraction are

    Explain the statement: “Generalization and abstraction are nearly synonymous.”?

    		•
  • Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

    		•
  • Q : The market system not only accepts

    Explain the statements: The market system not only accepts self-interest as a fact of human existence.

    		•
  • Q : Explain the definition of Economics

    Explain the definition of Economics?

    		•
  • Q : Determine the clearest illustration of

    The clearest illustration of economic inefficiency would be: (w) maintaining a warehouse full of pet rocks within hopes such that someday the fad will return. (x) pet rocks being unavailable to people willing to pay a price that exceeds the marginal s

    		•
  • Q : Categorization of economists for buying

    Assume that you bought a ton of gold in Santiago, and Chile for $450 per ounce and immediately sold all of this in Antwerp, Belgium for $480 per ounce. Therefore economists would categorize your movement as: (i) arbitrage. (ii) scalping. (iii) screening. (iv) speculat

    		•