What are the basic assumptions of macroeconomics?

Economics Dec 14, 2020

Expert Solution

The basic assumption of macroeconomics is the limited resources and unlimited wants. We can divide into two categories such as preference and resources.

1) Preference:- It prefers about the commodity which we like and which we dislike.

2) Resources:- The resources are limited such that the decision of what to produce, how to produce and for whom to produce is taken in such a manner that the resources are used efficiently and effectively.

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