Micro-economics
|
Macroeconomics
|
(i) The branch of economics that studies the
behavior of an individual consumer, firm family is known as
microeconomics.
|
(i) The branch of economics that studies the
behavior of the whole economic is known as Macroeconomics.
|
(ii) Micro economics deals with individual part of
the different values.
|
(ii) Macroeconomics deal with different economic
variable in aggregate scenes.
|
(iii) It deals with equilibrium of a single market
that is partial equilibrium.
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(iii) It related with interrelated equilibrium.
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(iv) It is narrow in scope and interpret the small
constitutes of the entire economy.
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(iv) It has a wide scope and interprets the economy
of a country as a whole.
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(v) It helps in developing policies appropriate
resource distribution at firm level.
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(v) It helps in developing policies appropriate
resource distribution at economy level such as inflation, unemployment level
etc.
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(vi) It is known as price theory.
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(vi) It is known as income theory.
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(vii) It is applied to operational or internal
issues.
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(vii) It is applied to environment and external
issues.
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(viii) It does not consider socioeconomic factor.
|
(viii) It consider different socioeconomic factor.
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(ix) Example: Individual Demand, price of a product
etc.
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(ix) It consider different socioeconomic factor.
|
25 February 2018
Show the difference between microeconomics and macroeconomics
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