Question

What is the need of macroeconomics from viewpoint of consumers?

Answer 1

Macroeconomics is the branch of economics that concentrates on the behaviour and performance of aggregate variables and those issues which affect the whole economy. It includes regional, national and international economies and covers the major areas of the economy like unemployment, poverty, general price level, GDP (Gross Domestic Product), imports and exports, economic growth, globalization, monetary/ fiscal policy, etc. It helps in resolving the various problems of the economy, thereby enabling it to function efficiently. Examples: Aggregate Demand, National Income, etc. 


Macroeconomics is the branch of economics that looks at economy in a broad sense and deals with factors affecting the national, regional, or global economy as a whole.

Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.