Question

What is difference between micro and macro economics gor simple language?

Answer 1

Answer:

1) microeconomic is the part of economic theory which studies the behaviour of individual units of an economy.

2) tools is: demand and supply

3) basic objective: to determine price of a commodity.

1) macroeconomic is that part of economic theory which studies the behaviour of aggregate of the economy as a whole.

2) tools: aggregate demand and supply

3) basic objective: to determine income and employment level of the economy.

Answer 2

Answer:

Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach. Macroeconomics takes a top-down approach and looks at the economy as a whole, trying to determine its course and nature.

Explanation:

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