limitations of macroeconomics
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Limitations of Macroeconomics
- Considers Aggregates as Homogenous: The individual data may not be similar in structure or composition. ...
- Misleading: The extensive application of the macroeconomics measures seems to be irrelevant when aimed at 100% results.
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Answer:
Some of the important limitations of microeconomics are listed below:
Explanation:
1. Excessive Generalisation:
2. Excessive Thinking in terms of Aggregates:
3. Heterogeneous Elements:
4. Differences within Aggregates:
5. Aggregates must be functionally related:
6. Limited Application:
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