Although micro and macroeconomics
both are important aspects of economics, they both have different meaning and
working way.
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Microeconomics
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Macroeconomics
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1.
It is concerned the individual
quantities, income price output.
2.
It studies the aggregates related to
particular commodities market
industries.
3.
It deals with sub-aggregates of
individual aggregates.
4.
It examines how relative price of products & factors are determined & how resources are allocated.
5.
It is not concerned to policy
imposition.
6.
It assumes the full employment in
leissez-faire economy of classical concept & try to analyze resource
allocation pattern.
7.
It is based upon J. B. Say's law i.e. 'supply creates its own demand'.
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1. It is concerned to aggregates
of
individual quantities, national
income, general price level &
national output
2. It studies the aggregates relate
to the entire economic system.
3. It deals to large-aggregates
related to the economy as a whole.
4. It examines how general price
level is determined & how
resources are allocated under
whole economic system.
5. It examines the various economic
problems & make policies to deduce them.
6. It tries to analyze how
resources can be fully utilized & try to bring full employment.
7. It rejects the law of say.
It believes that there are various
factors which brings equilibrium into
demand & supply .
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