Question
Specify the difference between microeconomics and macroeconomics.
| Microeconomics | Macroeconomics |
| $1.$ Microeconorpjcsis. the study and analysis of economics at an individual, group or company level. | $1.$ Macroeconomics is the study of national economy as a whole. |
| $2.$ Macroeconomic analysis uses the ‘Principc of Marginalism to analyze how individual units make decisions in an economy. | $2.$ Macroeconomic analysis has helped to develop principles for managing resources in such a way that leads to increase in national income, reduce unemployment, poverty, inflation and so on. |
| $3.$ Determining price and wages. equilibrium output level for firm. etc. are studied here. | $3.$ Macroccanomics studies determining national income, unemployment, poverty, etc. |
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