differencetiate between micro and macro economics? any 4
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Microeconomics primarily deals with individual income, output, price of goods, etc. Macroeconomics is the study of aggregates such as national output, income, as well as general price levels. ... Macroeconomics focuses on upholding issues like employment and national household income
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Microeconomics and macroeconomics are the fields of study in economics.
Explanation:
- Microeconomics can be defined as the study of economic factors at a small level. Macroeconomics is the study of economic factors at a larger level.
- The scope of microeconomics is limited while the scope of macroeconomics is very vast.
- Microeconomic factors exist within macroeconomics.
- Examples of microeconomic factors include producer behavior, consumer behavior, etc. Examples of macroeconomic factors include national income, aggregate supply, aggregate demand, etc.
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