Question

Distinguish between microeconomics and macroeconomics.

Answer 1

S.No.	Micro Economics	Macro Economics
1.	It deals with the economic decision–making of individual economic agents.	It deals with aggregates and averages of the entire economy.
2.	It accounts for only small components of the whole economy.	It considers the economy of the country as a whole.
3.	It deals with the price determination of individual products and factors of pro­duction.	It deals with the general price – level in any economy.
4.	It is concerned with the optimization goals of individual consumers and producers	It is concerned with the optimization of the growth process of the entire economy.