Question

explain the interdependence and paradoxes between microeconomics and macroeconomics ?​

Answer 1

Answer:

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Explanation:

Here is your answer-

Micro and macro economics are the two sides of the same coin. There is close interdependence between the two. We cannot analyse the individual behaviour without the assuming to aggregate and likewise aggregate cannot be effective unless individual variables are kept under consideration.

Answer 2

Hey Mate !

Interdependence between microeconomics and macroeconomics

→Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole.

→Microeconomics focuses on issues that affect individuals and companies. This could mean studying the supply and demand for a specific product, the production that an individual or business is capable of, or the effects of regulations on a business.

→Macroeconomics focuses on issues that affect the economy as a whole. Some of the most common focuses of macroeconomics include unemployment rates, the gross domestic product of an economy, and the effects of exports and imports.At first glance, micro and macro economics might seem completely different from one another. In reality, these two economic fields are remarkably similar, and the issues they study often overlap significantly.

→For example, a common focus of macroeconomics is inflation for a specific economy and it is caused by a variety of factors.

→While this might seem like a purely macroeconomic field of study, it’s actually one that’s very important in microeconomics. On a microeconomic level, this has several effects. Businesses are forced to raise their prices in response to the increased cost of materials.

Paradox of micro and macro economics

ΔMicro-macro paradox is a fallacy, Fallacy of composition. It happens when something is true for one part of whole, we consider it true for the whole. This means that if something is beneficial for micro or macro economics, it is not necessary that it will be beneficial for the other alsoΔ

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