Distinhbish between Micro Economics and Macro Economics.

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answered Oct 11, 2021 by RuchitaKashyap (34.7k points)
selected Oct 12, 2021 by NiharPatel

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Micro Economics	Macro Economics
(a) Micro economics deals with the economic behaviour of small units like particular firm, particular household, individual prices, wages, etc.	(a) Macro economics deals with the economic behaviour of large units or entire economy such as National Income, aggregate demand, aggregate supply, etc.
(b) It studies each unit in depth by using slicing method.	(b) It studies the economy as a whole using lumping method.
(c) It is based on partial equilibrium analysis based on assumptions.	(c) It is based on a general equilibrium analysis.
(d) Micro economic analysis is also called as ‘Price theory.	(d) Macro economic analysis is also called as ‘Income theory.’
(e) Most of the theories are given by Dr. Alfred Marshall.	(e) Theories are profounded by Lord J. M. Keynes.