Microeconomics:
is the study of individuals’ behaviour in the economy. It is concerned with for
e.g., the behaviour of firms, consumers, and the determination of market prices
and quantities.
Macroeconomics:
is the study of aggregate economic activity. Macroeconomic investigates how the
economy as a whole works. For instance, it is concerned with the overall price
level, overall employment level or price stability.
Macroeconomic
objectives of the government:
(i)
full employment
(ii)
the avoidance of
high inflation rate
(iii)
economic growth
(iv)
balance of
payment equilibrium
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Additional notes: National income.doc
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