distinguish between macro and micro economics
Answers
What is the basic difference between microeconomics and macroeconomics?
Microeconomics is the study of how individuals and companies make decisions to allocate scarce resources. Macroeconomics is the study of an economy as a whole.
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Answer:
Micro economics :- micro economics is the study of decisions made by people and businesses regarding the allocation of resources and prices of goods and services . the government decides the regulation for taxes .
- The factors of microeconomics are as follow :-
- demand supply and equilibrium
- production theory
- costs of production
• labour economics
For example :- individual demand and price of product
Macro economics :- macro economics is a brand of economics that substantial picture . It scruntinses itself with the economy at a massive scale and several issue of an economy are considered. the issue confronted by an economy and the head that it makes are measured and that as a part and parcel
the important concepts covered under microeconomics orders follow
- capitalist national
- investment expenditure
- revenue
example :- aggregate demand and national income
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