CBSE Class 12-commerce Answered

Microeconomics

Macroeconomics

i. Microeconomics studies economic relationships or economic problems at the level of an individual, an individual firm or household or consumer.

i. Macroeconomics studies economic relationships or economic problems at the level of the economy as a whole.

ii. It is basically concerned with the determination of output and price for an individual firm or industry.

ii. It is basically concerned with determination of aggregate output and general price level in the economy as a whole.