Question

Write down difference between micro and macro ecomomy

Answer 1

$\bf\underline{Micro \:Economy}$

▪By words micro refers to "small things". Thus it is considered to be the study of small things in an economy.

▪Micro economy is the study of economy at the level of individual, group or company.

▪In micro economy we study the issues related to its limited and small units.

▪In micro economy we study some basic concepts of an economy like - demand, supply, consumer equilibrium, producer equilibrium etc.

___________________ _ _

$\bf\underline{Macro \:Economy}$

▪By words, macro refers to "large things". Thus it is considered to be the study of large things in an economy.

▪Macro economy is the study of national economy as whole.

▪In macro economy we study the issues related to the whole economy.

▪The concepts included in macro economy are - aggregate demand - supply, balance of economy, national income etc.

Answer 2

Answer:

$\large{\underline{\underline{\textsf{\maltese{\red{answer}}}}}}$

By words micro refers to "small things". Thus it is considered to be the study of small things in an economy.

▪Micro economy is the study of economy at the level of individual, group or company.

▪In micro economy we study the issues related to its limited and small units.

▪In micro economy we study some basic concepts of an economy like - demand, supply, consumer equilibrium, producer equilibrium etc.

___________________ _ _

$\bf\underline{Macro \:Economy}MacroEconomy$

▪By words, macro refers to "large things". Thus it is considered to be the study of large things in an economy.

▪Macro economy is the study of national economy as whole.

▪In macro economy we study the issues related to the whole economy.

▪The concepts included in macro economy are - aggregate demand - supply, balance of economy, national income etc.