Question

Specify the diffrence between microeconomics and macroeconomics ?

Answer 1

Answer:

MICRO ECONOMICS:

Microeconomics studies individuals and business decisions. Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach.

MACRO ECONOMICS:

Macroeconomics analyzes the decisions made by countries and governments. Macroeconomics takes a top-down approach and looks at the economy as a whole, trying to determine its course and nature.

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Answer 2

Microeconomics :-

♥ Microeconomics is a part of economic theory which studies the behaviour of individual units of an economy .

♥ It's also known as ' Price theory ' .

♥ Demand and supply are the tools .

♥ It aims to determine the price of a commodity or the factors of production .

♥ E.g - Individual income and individual output .

Macroeconomics :-

♥ Macroeconomics is a part of economic theory which studies the behaviour of aggregates of the economy as a whole .

♥ It's also known as ' Income & Employment theory ' .

♥ Aggregate deman and aggregate supply are the tools .

♥ It aims to determine income and employment level of the economy .

♥ E.g - National income and national output .