Question

difference between microeconomics and macroeconomics

Answer 1

Heya...

* Meaning...

# Microeconomics is the study of economic problems at a small or individual level...

# Macroeconomic is the study of economic problems at a macro or whole economic level...



* Units estimated...

# In the study of Microeconomics the units of macroeconomic remains constant...

# In the study of macroeconomic the concepts of Microeconomics remains constant..


* Components included...

# Microeconomics have three components such as,,, : Theory of supply : Theory of demand : Theory of price....

# Macroeconomic have also three components such as,, : Equilibrium in economy.. : Disequilibrium in economy ..: Correction Policies of Disequilibrium..

* Examples....

# Microeconomics as individual firm, market etc...

# Whole economy as India... etc..

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 .