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Non-Competitive Markets

Define microeconomics.

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 decisionmaking.

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Final Goods and Intermediate Goods

National Income (NI)

What is meant by macroeconomics?
Give two examples of macroeconomic studies.
Why is study of problem of unemployment in India a macroeconomic study?

Distinguish between microeconomics and macroeconomics.
Give an example of showing the difference between microeconomics and macroeconomics.

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