Question

Giving suitable example. Explain the meaning of micro economic and macro economic

Answer 1

Answer:

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, and tries to determine how these groups should organize and coordinate efforts to achieve maximum output.

Economic analysis often progresses through deductive processes, including mathematical logic, where the implications of specific human activities are considered in a "means-ends" framework.

Answer 2

hii

Microeconomic is the study of individual, household and firms,behaviour in decision making and allocation of resouces.lt generally apply to market of goods and services and deals with individual and economic issue

Macronomics is the study of nation as a whole.

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