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CBSE Class 11-commerce Answered

DiffentiatDif between micro economic and macro economic
Asked by rickyverma5821 | 11 Mar, 2019, 09:51: AM
answered-by-expert Expert Answer

Microeconomics

 

Macroeconomics

The word Micro is derived from the Greek word ‘Mikros’ meaning ‘small’.

The word Macro is derived from the Greek word ‘Makros’ meaning ‘large’

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

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

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

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

Example: Supply, price, demand

Example: National income, unemployment, inflation

Answered by Christina | 11 Mar, 2019, 11:51: AM
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