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प्रश्न
Define ‘Economic Model’
उत्तर
A model is a simplified representation of a real situation. Economists use models to describe economic activities, their relationships, and their behaviour. A model is an explanation of how the economy, or part of the economy, works. Most economic models are built with mathematics, graphs, and equations, and attempt to explain relationships between economic variables.
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संबंधित प्रश्न
Macro economics is different from micro economics.
Concepts studied under Macroeconomics.
- Whole economy
- Economic development
- Aggregate supply
- Product pricing
State with reason whether you agree or disagree with the following statement:
Macroeconomics deals with the study of individual behaviour.
Statements related to macro economics.
- It is the study of aggregates
- It is based on certain assumptions
- It takes into account interdependence between aggregate economic variables
- It is a policy oriented science
Find the odd word
Scope of Macroeconomics -
Assertion (A): Macro-economic analysis shows how the general price level is determined.
Reasoning (R): It deals with determination of the prices of goods and services as well as factors of production.
Identify & explain the concept from the given illustration.
Ramesh analysed the total investments, total employment, total consumption and total savings of the economy for the financial year 2019-20.
Quantity of a commodity accumulated at a point of time is termed as ____________.
Identify the flow variable.
The whole economy is studied in ______
Give an economic term:
A branch of economics that studies the reasons for fluctuations in national income.
Concepts studied under Macro economics.
- Whole economy
- Economic development
- Aggregate supply
- Product pricing
Concepts studied under Macro economics.
- Whole economy
- Economic development
- Aggregate supply
- Product pricing
