Question

Q. 6. Answer in detail:
1) Explain the importance of Micro economics.
2) Explain the concept of Macro economics and
its features.​

Answer 1

Answer:

1)Microeconomics is of great help when it comes to studying the conditions of economic welfare. ... This branch of economics helps us understand the level of satisfaction of the people in the economy. It also helps economists identify the allocation of resources within the economy.

2)

Macroeconomics is that branch of economics which deals with the study of national aggregates. The features of macroeconomics are: ... This is because it deal with the economic system as a whole and studies the inter relationships and interdependence between the various macro variables in an economy.

Explanation:

Hope it helps you!

Answer 2

Answer:

explain the importance of micro economics