1.  What is the difference between micro and macroeconomics ?

       Microeconomics is the study of individual economic units like households, firms etc. whereas, macroeconomics deals with the broad aggregates like national income, employment, inflation etc.

2.  State two reasons why macroeconomics is superior to microeconomics.

       Macroeconomics is superior to microeconomics because it helps us to deal with the problems vital for the understanding of the economy which are outside the purview of microeconomics like national income, output, employment,. aggregate demand, aggregate supply, price level, economic growth, balance of payment problems etc. Secondly, it addresses the important issues like unemployment, low rate of growth, adverse balance of payments etc. and their causes as well as remedies. It helps the government to formulate efficient and appropriate fiscal and monetary policies to tackle such problems.