What is Meant by Economics
Economics is a social science that examine how to people choose among the alternatives available to them. It is social because it involves people and their behavior. It is science because it uses ,as much as possible , a scientific approach in its investigation of choices
What Is Meant by Micro economics
Kenneth Boulding - "Micro economics is the study of particular firms, particular households, individual prices, wages, incomes, individual industries and particular commodities."
What Is Meant By Macro economics
Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation. Macro economics is concerned primarily with the forecasting of National Income, through the analysis of major economic factors that show predictable, patterns and trends, and their influence on one another.
Economics is a social science that examine how to people choose among the alternatives available to them. It is social because it involves people and their behavior. It is science because it uses ,as much as possible , a scientific approach in its investigation of choices
What Is Meant by Micro economics
Kenneth Boulding - "Micro economics is the study of particular firms, particular households, individual prices, wages, incomes, individual industries and particular commodities."
What Is Meant By Macro economics
Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation. Macro economics is concerned primarily with the forecasting of National Income, through the analysis of major economic factors that show predictable, patterns and trends, and their influence on one another.
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