Nature And Scope of Micro Economics And Macro Economics - Notes - Explanation
We already studied about the “ Difference Between Micro Economics And Macro Economics ”, but here we will study about the N ature and Scope of both Micro Economics And Macro Economics one by one. Micro Economics And Macro Economics Concepts / A nalysis are two mai n and different in Nature And Scope. By Scope of Micro and Macro Economics we mean that the Economic Laws of both applicable to a selected area. For Example, the scope of Micro Economics is applicable to particular individual units, common person, particular industry sector while the scope of macro economics is applicable to a country or to whole economy of a country or at international level between two or more countries. 1. N ature And Scope of Micro Economics (i) N ature of Micro Economics Micro Economics deals with individuals decision making unit at a specific level. It is concerned with the welfare of individuals, particular industry of the operating in...