Diff bw micro and macro economic

Diff bw micro and macro economic
  • 1 answers

Yogita Ingle 1 month, 2 weeks 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

Related Questions:

Name the two types of investments?
  • 2 answers
Can MPC be negative or 0 (6marks)
  • 5 answers

Buy Complete Study Pack

Subscribe complete study pack and get unlimited access to selected subjects. Effective cost is only ₹ 12.5/- per subject per month. Based on the latest CBSE & NCERT syllabus.

myCBSEguide App

myCBSEguide

Trusted by 70 Lakh Students

CBSE Test Generator

Create papers in minutes

Print with your name & Logo

Download as PDF

3 Lakhs+ Questions

Solutions Included

Based on CBSE Blueprint

Best fit for Schools & Tutors

Work from Home

  • Work from home with us
  • Create questions or review them from home

No software required, no contract to sign. Simply apply as teacher, take eligibility test and start working with us. Required desktop or laptop with internet connection