Question

difference between microeconomics and macroeconomics

Answer 1

Microeconomics is small Macroeconomics is large

Answer 2

Microeconomics :-

♥ Microeconomics is a part of economic theory which studies the behaviour of individual units of an economy .

♥ It's also known as ' Price theory ' .

♥ Demand and supply are the tools .

♥ It aims to determine the price of a commodity or the factors of production .

♥ E.g - Individual income and individual output .

Macroeconomics :-

♥ Macroeconomics is a part of economic theory which studies the behaviour of aggregates of the economy as a whole .

♥ It's also known as ' Income & Employment theory ' .

♥ Aggregate deman and aggregate supply are the tools .

♥ It aims to determine income and employment level of the economy .

♥ E.g - National income and national output .