Economy, asked by dasoyendrila3, 22 days ago

Exaplain the independence between micro and macro economy by giving suitable example​

Answers

Answered by presentmoment
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Below mentioned is the independence between micro and macro economy by giving suitable example​ -

Explanation:

Economics is divided into two categories:

  1. Microeconomics
  2. Macroeconomics

Difference between Micro and Macro economics -

  • Microeconomics -
  1. Microeconomics studies individual economic units.
  2. Microeconomics primarily deals with individual income, output, price of goods, etc.
  3. Microeconomics focuses on overcoming issues concerning the allocation of resources and price discrimination.
  • Macroeconomics -
  1. Macroeconomics studies a nation’s economy, as well as its various aggregates.
  2. Macroeconomics is the study of aggregates such as national output, income, as well as general price levels.
  3. Macroeconomics focuses on upholding issues like employment and national household income.

Examples of Micro and Macro economics are -

  • Microeconomics -
  1. Price determination of a particular commodity.
  2. Consumer equilibrium.
  3. Output generated by an individual organization.
  4. Individual income and savings.
  • Macroeconomics -
  1. National income and savings.
  2. General price level.
  3. Aggregated demand as well as supply.  
  4. Poverty.
  5. Rate of unemployment.

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