What Is Microeconomics and Macroeconomics ,Difference Between Microeconomics And Macroeconomics

             What is Microeconomics?

Microeconomics is a branch of economics that discusses how individual ,firms and households behave during an economic activity and how they make decisions when they use scarce resources.

Microeconomics is also known as price theory.  Because microeconomics highlights the importance of price between buyers and sellers. How buyers and sellers determine prices through their activities is discussed in microeconomics.

        What is Macroeconomics?

Macroeconomics is a branch of economics that deals with the overall economy.

Macroeconomics Focused on Inflation, interest and foreign exchange rates, and the balance of payments, price level, economic growth rate, national income, gross domestic product (GDP), and unemployment .Macroeconomics is also concerned with fiscal policy and monetary policy

Difference Between  Microeconomics And Macroeconomics

Microeconomics is concerned with the decisions of individuals , firms and households ,but macroeconomics is concerned with the overall economy. Microeconomics is also known as price theory and Macroeconomics is also known as income and employment theory.

Microeconomics focuses on individual income  and Macroeconomics focuses on national income .Microeconomics describe price of goods and services .Macroeconomics describe price level ,inflation, unemployment

                      Other Definition Of Microeconomics

      What is Microeconomics?

Microeconomics deals with the behavior of individuals, firms and households and how they make decisions.

 

Microeconomics deals with how an individual makes decisions about himself and his family and how he makes decisions about their consumption . Also, microeconomics deals how the firm produces the goods and services used by scarce resources and how these goods and services are distributed and used.