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Non-Competitive Markets
Question
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Distinguish between microeconomics and macroeconomics.

Answer

Microeconomics is the study of individual units of an economy whereas macroeconomics is the study of economy in its totality.

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Some More Questions From Non-Competitive Markets Chapter

Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.

Consumption Goods and Capital Goods

Flow and Stock Concepts

Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth. 

Gross Investment and Net Investment

Domestic (Economic) Territory

National Income at Current and Constant Prices (Nominal and Real NI)

Consumption of Fixed Capital (Depreciation)

Factor Cost vs. Market Price (or Net Indirect Taxes)

Net Factor Income from Abroad (NFIA)