Giving suitable example. Explain the meaning of micro economic and mac

1.	Giving suitable example. Explain the meaning of micro economic and macro economic
Answer» ANSWER: ECONOMICS is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make CHOICES on allocating resources to satisfy their WANTS and needs, and tries to determine how these groups should organize and coordinate efforts to achieve maximum output. Economic analysis often progresses through deductive processes, including mathematical logic, where the implications of specific human ACTIVITIES are considered in a "means-ends" framework.

Giving suitable example. Explain the meaning of micro economic and macro economic

Answer»

ECONOMICS is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make CHOICES on allocating resources to satisfy their WANTS and needs, and tries to determine how these groups should organize and coordinate efforts to achieve maximum output.

Economic analysis often progresses through deductive processes, including mathematical logic, where the implications of specific human ACTIVITIES are considered in a "means-ends" framework.

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