![]() ![]() like particular firm, industry, price of a commodity, etc.Macro economics is a study of aggregates like national income, total employment, aggregate demand, aggregate supply, etc. MICRO ECONOMICSMACRO ECONOMICSMicro economics is a study of individual or small units. Let us see some of the differences between Micro Economics and Macro Economics. For eg: It is said that national income increased, it do not mean the income of all the people in the country increased, the incomes of some people may increase and others decrease. ![]() The Things which are true in micro economics may not be true in macro economics. Macro economics is the study of aggregates like national income, total employment, aggregate demand, aggregate supply, etc. The word ‘Macro’ is derived from a greek word ‘Makros’ which means large. ![]() For eg: saving by an individual is good from micro economics point of view but it results in the decline in total demand. These are called macro economic paradoxes. The things which are true in micro economics may not be true in macro economics. It is a study of individual or small units of economics. The word ‘Micro’ is derived from a greek word ‘Mikros’ which means small. The terms micro and macro are used by Ragnar Frisch. This article presents you with difference between Micro and Macro economics. Economics is studied by dividing into two types, they are Micro Economics and Macro Economics. These two terms can be called as opposite to each other. It is a study of demand, production, supply, and consumption of goods and services. ECONOMICS January 8, 2017Februadminshare thisĮconomics is the study of how economies work. ![]()
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