1.

What Is Micro And Macro Economics?

Answer»

The study of economics is DIVIDED into two parts.

  • Micro Economics
  • Macro Economics

Micro economics:

  • The word micro means a millionth part. MICROECONOMICS is the study of the small part or component of the whole economy that we are analyzing. For example we may be studying an individual firm or in any particular industry. In Microeconomics we study of the price of the particular product or particular factor of the production.
  •  theory STUDIES the BEHAVIOR of individual decision-making units such as consumers, recourse owners and business firms.

Macro Economics

  • Macro economics is the study of behavior of the economy as a whole. It examines the overall level of NATIONS out put, employment, price and foreign trade.
  • Macroeconomics is concerned with aggregate and average of entire economy.

The study of economics is divided into two parts.

Micro economics:

Macro Economics


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