Question

give 10 points difference between macro and micro economics​

Answer 1

Difference between micro and Macro economy .

Micro economics →

1. microeconomics studies economic relationship for economic problem at level of individual for example individual firm and individual household or an individual consumer.
2. microeconomics is basically concerned with determination of output and price for an individual form or industry accordingly microeconomics is briefly referred to as the theory of price.
3. study of microeconomics assume that macro variable remains constant for example it is assumed that aggregate output is given while we are studying determination of output and price of an individual form or industry.
4. market forces that is supply and demand play a significant role in context of microeconomics problems like the problem of product pricing or factor pricing.

Macro economics →

1. microeconomics studies economic relationship for economic problems at the level of economy as a whole.
2. microeconomics is basically concerned with the determination of aggregate output and general price level in the economy as a whole accordingly microeconomics is briefly referred to as the theory of income and employment.
3. study of macroeconomics assume that the micro variable remain constant for example it is assume that distribution of income remains constant when we are studying the determination of aggregate output and income level.
4. government policies (monetary and fiscal policies) play a significant role in the context of macroeconomic problems like the problem of unemployment , poverty and inflation.