Question

micro economics and macro economics diffefence

Answer 1

The difference between micro and macroeconomics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomicsfocuses on issues that affect individuals and companies.

Answer 2

Answer:

Economic is the study of the scarcity of resources with the choice of alternative options to satisfy the needs and wants.

The subject of Economic can be sub-grouped as -Micro Economics and Macro Economics.

Microeconomics -

• Micro means small

•States the study of factors like an individual, group or Company.

•The scope of microeconomics is narrow due to the study on single units.

• It focuses on price determine.

Macroeconomics -

• Macro means large.

• States the study of the economic factor as a whole like GDP, National Income, etc.

• The scope of macroeconomics is wider due to the study as a whole.

• It focuses on Income and Employment determination