MICRO ECONOMICS

• Micro economics is the study of small part of component of the whole economy.
• Micro economics is CALLED the price theory. It’s EXPLAINED its composition, or allocation of total production why more of something is produced than of others.
• In Micro study about individual consumer behavior or INDIVIDUALS firm or what happens in any PARTICULAR industry.
• If it be an analysis of price, we study about the price of a particular PRODUCER or of a particular factor of production.
• If it is demand we analysis demand of an individual or that of an industry.
• Here we study the income of an individual.

MACRO ECONOMICS

• Macro economics is the study and analysis of economic system as a whole.
• Macro economics is called income theory. It explains the level of total production and why the level rises and fall.
• In Macro we study how the aggregates and the averages of the economy as whole is determined and what causes fluctuation in them.
• In macro we study the general price level in country.
• In macro we study the aggregate demand of the entire country.
• Here we study the national income of the country.

MICRO ECONOMICS

MACRO ECONOMICS