Differenciate between microeconomics and macroecnomics in …

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Differenciate between microeconomics and macroecnomics in detail?

Posted by Nanci Bhati 6 years, 2 months ago

CBSE > Class 11 > Economics

3 answers

Riya Chaurasia 6 years, 2 months ago

Ye to already Google pr hai???

0Thank You

Sameer Singh 6 years, 2 months ago

0Thank You

Yogita Ingle 6 years, 2 months ago

Basis for Differentiation	Microeconomics	Macroeconomics
Meaning	Microeconomics studies the particular market segment of the economy	Macroeconomics studies the whole economy, that covers several market segments
Deals with?	Microeconomics deals with various issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, etc.,	Macroeconomics deals with various issues like national income, distribution, employment, general price level, money, etc.,
Business Application	Applied to internal issues	Environment and external issues
Scope	Covers several issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, etc.	Covers several issues like distribution, national income, employment, money, general price level, etc.,
Significance	Useful in regulating the prices of a product alongside the prices of factors of production (labour, land, entrepreneur, capital, etc) within the economy	Perpetuates firmness in the broad price level and solves the major issues of the economy like deflation, inflation, rising prices (reflation), unemployment and poverty as a whole
Limitations	It is based on impractical presuppositions, i.e. In microeconomics, it is presumed that there is full employment in the community which is not at all feasible	It has been scrutinized that Misconception of Composition’ incorporates, which sometimes fails to prove accurate because it is feasible that what is true for aggregate (comprehensive) may not be true for individuals too