Q. What are the branches of economics?
Top Answer
Solution:
The two branches of economics are microeconomics and macroeconomics.
Microeconomics – Microeconomics studies the behavior of individual agents, such as households, firms, and industries, and how they make decisions to allocate limited resources.
Macroeconomics – Macroeconomics studies the overall economy and big trends like growth, unemployment, and inflation. It looks at how the government spends and taxes money, and how banks control money and interest rates. It also examines how countries trade with each other. Understanding macroeconomics helps us make decisions to keep the economy healthy.
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