Question

1) Explain the basic concepts of macro economics.​

Answer 1

Explanation:

The two main fields of study in economics are microeconomics and macroeconomics. Now, as you already know, macroeconomics deals with the economy as a whole. Microeconomics, on the other hand, studies the behavior of organizations and individuals. Let us understand a few concepts of Macroeconomics such as Monetary Policy, Input and Output etc.

Answer 2

Answer:

Microeconomics is the branch of economics that study with the behavior of individual firms and firms in making decisions regarding the allocation of scarce resources.

The main objective of microeconomics is to explain the principles, problems and policies related to the allocation of resources.