Question

state any 4 differences between microeconomics and macroeconomics.​

Answer 1

Answer:

Microeconomics

• individual markets
• effect on price of a good
• individual labour market
• individual consumer behaviour

Macroeconomics

• whole economy(GDP)
• inflation
• employment/unemployment
• agreegate demand

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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 .