Q.
(a) Explain the difference between macroeconomics and microeconomics. (5 marks)
(b) Describe the three (3) characteristic differences between free economic system and central planning economic system. (15 marks)
(20 marks, 2015 Q1)
(17.09.2015)
A.
(a) Difference between Macro and Microeconomics.
Similar question was asked in:
2011 Q1 - Explain macro and microeconomics
(b) 3 differences between free and central planning economic systems.
Similar question was asked in:
2013 Q1b - advantages and disadvantages of economic systems
Ref:
Earlier posts.