Microeconomics and Macroeconomics Class 11 Notes
Microeconomics and Macroeconomics Class 11 notes distinguish the concepts of micro and macro economics. The subject of economics has been divided into two broad categories; Microeconomics (Price Hypothesis) and Macroeconomics (Income Hypothesis). They give you a study tool to understand the concepts and remember them efficiently which makes you look like a pro. This will Engage your mind. Listening carefully and deciding what to include in answers keeps your mind actively involved with what you hear and emphasises and organises information.
Microeconomics under Micro and Macroeconomics
Adam Smith is seen as the originator of the field of microeconomics. The Greek word “mikros,” which means “little,” is where the phrase “miniature” comes from. The study of the behavior and financial activities of small and individual economic units, such as a single customer, a company, or a small group of individual units, is managed by microeconomics.
The idea of microeconomics is important because it serves as the foundation for most of our understanding of how things work. Microeconomics is a part of economic theory that focuses on how individual economic units operate. For example, Individual compensation, individual yield, cost of an item,
Macroeconomics
The term ‘large scale’ has been derived from the Greek word ‘macros,’ which implies ‘gigantic.’ As a result, macroeconomics typically oversees the economy’s operation. Macroeconomics is the component of the economic hypothesis that focuses on the behaviour of totals of the economy as a whole.
It is concerned with the investigation of issues in the economy, such as expansion, joblessness, poverty, and so forth.
Conclusion
Micro and Macro economics Class 11 notes are presented in this post for easy access to the students. These notes improve focus and attention to detail. Promotes active learning. Boosts comprehension and retention. Teaches prioritising skills. Extends attention span. Improves organisation skills. Increases creativity. Thus they provide an opportunity to learn and summarise the concepts.