in economics 12th class what is macro economics
Answers
Macroeconomics is a branch of economics that studies how an overall economy—the market systems that operate on a large scale—behaves. Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment
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Macroeconomics is a branch of Economics which deals with the aggregate or broader aspects or components of the economy.Some of the examples of macroeconomic concepts include GDP,National Income,Aggregate Consumption,Aggregate Investment etc.
Explanation:
The word "macro" basically means broad,large or wide.Macroeconomics is a discipline which studies the structure,changes,fluctuations and dynamics of the overall economy in any economy.In this pursuit,it examines the behavior and trends of various macroeconomic indicators such as overall price level in the economy,employment level,National Income,overall production of goods and services,inflation rate in the economy,aggregate consumption level and so forth.These are the macroeconomic components or indicators which reflect the overall performance and movement of the economy.Hence,macroeconomics is important to understand the entire dynamics of an economy.