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people etc. It suggests important steps to
achieve economic development. Tools Individual Aggregate
Demand and Demand and
5) Performance of an Economy : Macro
economics helps us to analyse the Individual Aggregate
performance of an economy. National Supply Supply
Income (NI) estimates are used to measure Scope Demand, National
the performance of an economy over time supply, prod- income,
by comparing the production of goods and uct pricing, general
services in one period with that of the other factor pricing, price level,
period. production, employment,
consumption, money etc.
6) Study of Macro economic Variables : To
understand the working of the economy, economic
welfare, etc.
study of macro economic variables are
important. Main economic problems are Importance Price Economic
related to the economic variables such determination, fluctuations,
as behaviour of total income, output, Model Study of
employment and general price level in the building, national

economy. Business income,
decisions etc. Economic
7) Level of Employment : Macro economics development
helps to analyse the general level of etc.
employment and output in an economy.
Theory Price Theory Income and

You should know : Employment
Theory
Micro Economics and Macro Economics Examples Individual National
at a glance
income, income,
Basis for Micro Macro Individual National
comparison economics economics
output etc. output etc.
Meaning Micro Macro
economics economics
studies the studies the Try this :
behaviour of behaviour of 1) Visit the vegetable market in the nearest
individual aggregates of area and try to get information about
unit of an the economy income and expenditure items of a
economy as a whole
particular seller

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