The Difference/Contrasts Between Microeconomics And Macroeconomics
Basically, Economics is divided into two main branches namely microeconomics and macroeconomics
Append below the contrast between these two branches of economics:
MICROECONOMICS |
· Micro means small · Focus or study on INDIVIDUAL units in the economy re: individual participants in the economy like individual entities like a firm, a household, an investor, a worker , a single market that makes up the broader economy · Deals with the problem of demand for a particular goods and services, discusses a single price determination, examines how tax cut affects a single firm’s output |
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Whereas:-
MACROEONOMICS |
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