Question

The study of the behavior of an economic system as a whole is called

• A. Microeconomics
• B. Macroeconomics
• C. Budget
• D. Expenditure

Hint:

'Macro' means large-scale. Macroeconomics looks at the big picture: entire countries' economies, GDP, and inflation. 'Micro' looks at small parts: individual businesses and consumer choices.

Answer 1

The Correct Option is B

Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on aggregate changes in the economy such as unemployment, growth rate, gross domestic product (GDP), and inflation. Microeconomics, in contrast, focuses on individual economic agents like households and firms.