Micro And Macro Economics

• What does micro economics study?

  Individual economic units
• Micro economics covers macroeconomic issues like inflation and GDP.

  False
• What does micro economics assume when analyzing market equilibrium using partial equilibrium?

  Ceteris paribus
• What is one area where micro economics is important?

  Price determination
• Match the term with its description:

  Micro Economics ↔️ Studies individual economic units

  Macro Economics ↔️ Examines the economy as a whole

  Price Theory ↔️ Explains how prices are determined

  Partial Equilibrium ↔️ Analyzes specific market components
• What is price theory a subset of in micro economics?

  How prices are determined
• Match the macro economics term with its description:

  Income Theory ↔️ Studies national income

  General Equilibrium ↔️ Examines large aggregates

  Growth Models ↔️ Develops models for economic growth

  Policy-oriented ↔️ Suggests economic policies
• What does macro economics primarily focus on?

  Aggregate variables
• What are some key variables studied in macro economics?

  Inflation and employment