28 Oct 2021
Problem 8
Page 292
Section SELF: CHECK QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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28 Oct 2021
Introduction
Economics is broadly divided in two parts, macroeconomics and microeconomics. Microeconomics discusses the working of individual agents within the economy such as businesses, workers, and household whereas; macroeconomics describes the economy as a whole. It discusses broad issues like unemployement, inflation, deflation, economic growth, imports and exports, and government deficits. Microeconomics and macroeconomics are not different subjects, but instead complementary perspectives on the overall subject of the economy.
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