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What is economics discuss the important points and limitations economics and difference micro and macro economics

Posted by Gurvir Kaur Gurvir Kaur 2 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Sia ? 2 years, 6 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.

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