Economy, asked by shravanibalekar2003, 2 months ago

3) Explain the scope of Macro economics.​

Answers

Answered by Rohit12102007
1

Answer:

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Explanation:

It mainly covers the measure fundamentals which are macroeconomic theories and macroeconomic policies. ... Here the MacroEconomic theories involve economic growth and development, the theory of national income, money, international trade, employment, and general price level

Answered by XxItsDivYanShuxX
11

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Brother/Sister your correct answer is:-

Microeconomics is defined as the study of individuals, households and firms' behavior in decision making and allocation of resources. The scope and subject matter of microeconomics is as follow:

1. Product Pricing

The main principle in microeconomics is product pricing or price mechanism. Prices of individual commodities are determined by market forces of demand and supply.

2. Factor Pricing

Microeconomics deals with the pricing of factors of production like land, labour, capital and entrepreneur. All factors contribute in production process. These factors get rewards in the form of rent, wages, interest and profit respectively.

3. Welfare Theory

Micro economics also deals with the optimum allocation of resources and maximisation of social welfare.

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