difference between microeconomics and macroeconomics

Microeconomics and Macroeconomics are important terms in Economics . Its listens  same but it has huge difference in microeconomics and macroeconomics .Here we points out some differences of them as follow : (note you can copy by making column )

 

 

Microeconomics:

  1. The term microeconomics was derived from Greek word ‘Mikros’ which means small.
  2. It is study of small individual units.
  3. The objective of  microeconomics on the demand side is to maximize utility whereas the supply side is to maximize profit .
  4. It basis is price mechanism which operates with the help of individual demand and supply and help to determine equilibrium price in the market .
  5. Micro economics is based on the assumption of full employment resources .
  6. It analyzes how resources are allocated .
  7. Microeconomics covers the areas such as the pricing of products ,pricing of factor of production , theories of economic welfare and soon.
  8. Microeconomics was developed mainly by classical economic in 18th and early 19th century .

 

 

Macroeconomics : 

  1. The macro economics was also derived from Greek word ‘Makros’ means large .
  2. It is the study about of the aggregate of those unit .
  3. The objective of macroeconomics are full employment , price stability and economics growth and favorable balance of payment .
  4. It’s basis is the general level of price which is determined by aggregate demand and aggregate supply .
  5. Macroeconomics is based on the aggregate of economy .
  6. It analyzes how resources can be fully employed .
  7. Macro economics covers the areas such as the oriels of income and employment theories of economic growth and soon .
  8. Macro economics was developed by J.M Keynes in 1930s decade.

Comments

comments