12th Class Economics Solved Paper - Economics 2017 Delhi Set-I

  • question_answer
    Distinguish between microeconomics and macroeconomics.


    Microeconomics Macroeconomics
    (a) Studies about individual economics units like households, firms, consumers, etc. It studies about an economy as a whole.
    (b) It deals with how consumers or make their decisions depending on their given budget and other variable. It deals with how different economic sectors can make their decisions.
    (c) It uses the method of partial equilibrium, i.e., equilibrium in one market. It uses the method of general equilibrium, i.e., equilibrium in all markets of an economy as a whole.

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