National Income Accounting
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Define microeconomics. Give one/two examples of microeconomics. Is study of cotton textile industry a microeconomic study or macroeconomic study? 

Meaning of microeconomics — Briefly, microeconomics is the study of individual economic units of an economy. It is that part of economic theory which deals with the individual parts of the economic system like individual households, individual firms, individual industries, etc. It concerns with the study of individual choice and decision-making.
Study of cotton textile industry is a microeconomic study.
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    What is meant by macroeconomics?
    or
    Give two examples of macroeconomic studies. 
    or
    Why is study of problem of unemployment in India a macroeconomic study?
    Answer
    Distinguish between microeconomics and macroeconomics. Give an example of showing the difference between microeconomics and macroeconomics.
    Answer
    Briefly explain the following basic concepts related to NI:
     National Income (NI).
    Answer
    Briefly explain the following basic concepts related to NI:
    Final Goods and Intermediate Goods. 
    Answer
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