microeconomic and macroeconomic
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Microeconomics and Macroeconomics.
Microeconomics deals with economic issues or economic problems related to microeconomic units like a household, a firm or an industry. These issues and problems are studied and addressed
largely with a view to maximising individual welfare. Macroeconomics deals with economic issues or economic problems at the level of economy as a whole. These issues or problems are studied and
addressed keeping in mind the goals of social welfare or collective welfare.
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