what makes microeconomics and macroeconomics an inseparable twins?
Answers
Explanation:
Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach.
Answer:
Micro- Economic and Macro-economic an inseparable twin -
Explanation-
To understand the above statement firstly lookup;
Q- what is economic?
Economic is the study of the scarcity of resources in the presence of unlimited alternative usage.
Micro and Macroeconomic are the sub-departments of the economic.
Microeconomics deals with the subjects of National Incomes, Gross domestic product, Gross National Products, etc. It analyzes the economic at a large scale or as a whole. Its have a wider scope of the study.
Macroeconomic deal with Demand, the supply of the domestic market. It has a narrow scope than the microeconomics. In microeconomics, we study the individual factors of effect and cause in the economic.
Both the economics subjects are interdependent to complete the whole cycle to understand and smooth functioning of the market.Every single extra produced unit or single extra consumed unit has a variety of impacts on the Gross domestic product of the country.
Hence, it is proved that micro- Economic and Macro-economic and inseparable twins due to their nature of Interdependence of factors and their cause-impacts.