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Difference between micro and macro economics

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Difference between micro and macro economics

Posted by Anita Mahato 3 years, 4 months ago

CBSE > Class 12 > Economics

2 answers

Preeti Dabral 3 years, 4 months ago

Microeconomics studies the particular market segment of the economy, whereas Macroeconomics studies the whole economy, which covers several market segments.
Microeconomics assumes all the macro variables to be constant as national Income, consumption, saving, etc, whereas Macroeconomics assumes that all tile micro variables to be constant as households, firms, prices of Individual products, etc.
Microeconomics deals with an individual product, firm, household, industry, wages, prices, etc., while Macroeconomics deals with aggregates like national income, national output, price level, etc.

0Thank You

Anmol Garg 3 years, 5 months ago

Micro in economics is the study of individual behaviour and macro in economics is the study of aggregate behaviour

0Thank You

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CBSE > Class 12 > Economics