-Difference in degree of aggregation-micro economics study individual units of economy like firm while macro deals with aggregates like national income and aggregate savings i.e it studies the problems of economy as a whole
-Difference in objectives-objective of micro economics is to study the principles,problems and policies concerning optimum location of resources while macro deals studies problems,principles and policies ralating to full employment,national income and growth of economy
-Difference in subject matter-micro deals with price determination ,consumer equilibrium,distribution and welfare while macro deals with principles of full employment ,eclnomic growth and national income
-Mortal and immortal-micro economics deals with individuals and individuals are said to be mortal(they are there for a time) while macro deals with entire economy which is the society and society is immortal(it is there forever)
Kalis answered the question on March 21, 2018 at 06:41
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Give the Importance and use of micro-economics
(Solved)
Give the Importance and use of micro-economics
Date posted:
March 20, 2018
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Answers (1)
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(a) Citing practical examples, explain the differences between the following types of unemployment listed below and how each affects economic growth.
(i) Seasonal and casual unemployment. ...
(Solved)
(a) Citing practical examples, explain the differences between the following types of unemployment listed below and how each affects economic growth.
(i) Seasonal and casual unemployment.
(ii) Disguised and unproductive unemployment.
(b) Outline policies which if implemented would alleviate the problem of unemployment.
Date posted:
March 16, 2018
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Answers (1)
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(a) Define the concept of “national income”.
(b) Briefly explain how national income is measured.
(c) Give reasons why it is difficult to compare the national income of...
(Solved)
(a) Define the concept of “national income”.
(b) Briefly explain how national income is measured.
(c) Give reasons why it is difficult to compare the national income of one country with the national income of another country.
(d) Outline the factors that determine the level of national income of a country.
Date posted:
March 16, 2018
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Answers (1)
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(a) Distinguish between money, near money and money substitutes.
(b) Identify and explain the functions of...
(Solved)
(a) Distinguish between money, near money and money substitutes.
(b) Identify and explain the functions of money. (6 marks)
(c) Explain the reasons for liquidity preference for money.
(d) Explain any four qualities of money.
Date posted:
March 16, 2018
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Answers (1)
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Give reasons why teachers study economics of education.
(Solved)
Give reasons why teachers study economics of education.
Date posted:
March 16, 2018
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Give reasons why economists are interested in education.
(Solved)
Give reasons why economists are interested in education.
Date posted:
March 16, 2018
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Answers (1)
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Outline the solutions to problems of education planning.
(Solved)
Outline the solutions to problems of education planning.
Date posted:
March 16, 2018
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Answers (1)
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Discuss the major problems facing educational planning in developing countries
(Solved)
Discuss the major problems facing educational planning in developing countries.
Date posted:
March 16, 2018
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Answers (1)
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Describe the social organization of the Nandi during the pre-colonial period
(Solved)
Describe the social organization of the Nandi during the pre-colonial period.
Date posted:
March 14, 2018
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Answers (1)
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Highlight the critical areas of choice in educational planning.
(Solved)
Highlight the critical areas of choice in educational planning.
Date posted:
March 13, 2018
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Answers (1)
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Discuss the functions of educational planning.
(Solved)
Discuss the functions of educational planning.
Date posted:
March 13, 2018
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Answers (1)
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How is the UNESCO conference of 1948 important to educational planning?
(Solved)
How is the UNESCO conference of 1948 important to educational planning?
Date posted:
March 13, 2018
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Answers (1)
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Outline the characteristics of human capital theory.
(Solved)
Outline the characteristics of human capital theory.
Date posted:
March 13, 2018
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Explain five externalities of education
(Solved)
Explain five externalities of education.
Date posted:
March 13, 2018
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Outline the demerits of the Manpower Requirement Approach in educational planning
(Solved)
Outline the demerits of the Manpower Requirement Approach in educational planning
Date posted:
March 13, 2018
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Answers (1)
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Comment on the merits of the Manpower Requirement Approach in educational planning
(Solved)
Comment on the merits of the manpower requirement approach in educational planning.
Date posted:
March 13, 2018
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Answers (1)
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To what extent has the Basic Needs Approach been applied in education in Kenya?
(Solved)
To what extent has the Basic Needs Approach been applied in education in Kenya?
Date posted:
March 13, 2018
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Answers (1)
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Give the views of early economist on consumption and investment aspects of education.
(Solved)
Give the views of early economist on consumption and investment aspects of education.
Date posted:
March 13, 2018
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Answers (1)
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Give conditions necessary to make money an effective medium of exchange
(Solved)
Give conditions necessary to make money an effective medium of exchange.
Date posted:
March 13, 2018
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Answers (1)
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Define the term Consumer Rationality and outline the conditions that must be fulfilled for consumer rationality
(Solved)
Define the term Consumer Rationality and outline the conditions that must be fulfilled for consumer rationality
Date posted:
March 9, 2018
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Answers (1)