Question

Micro and Macro approaches are _________. (competitive / alternative / substitutes / complementary), Fill in the blank with appropriate alternative given in the bracket.

Answer 1

Answer:

Micro and Macro approaches are complementary.

They might seem to be competitive in nature, however, the relationship is complimentary when it comes to economic analysis.

All the individual units taken together aid in the macro observation( macro approach) whereas the study of each of the individual units is a part of the micro approach.

Both the approaches are important while studying any aspect of the economy or organisation and this gives rise to Macroeconomics and Microeconomics.

Answer 2

Micro and Macro approaches are complementary.

Explanation:

• They might seem to be competitive in nature; however, the relationship is complimentary when it comes to economic analysis.
• All the individual units have taken together aid in the macro observations (macro approach) whereas the study of each individual unit is a part of the micro approach.
• Both approaches are important while studying any aspect of the economy or organization and this gives rise to Macroeconomics and Microeconomics.

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