Difference Between Micro And Macro Economics Notes
We can divide the study of Economics into two parts: (i) Micro Economics (ii) Macro Economics Micro means very small or it is a millionth part so we can say that Micro Economics is the study of Economy at an individual level or we study the particular unit of the whole Economy. For Example, we study the prices of particular product, firm or an industry. We study the behavior of a Consumer, ABC, etc. Company or any industry like Cotton Industry. Macro means extremely large. Macro Economics is the study of the Economy as a whole. We study the behavior of whole companies, A To Z, Industries like Cotton, Plastic, etc. and all consumers. For Example we study the purchasing power of whole customers. We Study the General Price Level of all industries. We study the productions of all companies. In Micro Economics, We study each and every individual unit. For Example, we study individual consumption, savings, incomes, etc. But in Macro Economi...