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Microeconomics
0 Microeconomics deals with the behavior and working of
individual economic units such as a household, a firm, an
industry and so on.
0 Theory of consumption
0 Theory of production
0 Theory of Factor Pricing
0 Theory of Economic Welfare
Macroeconomics
Macroeconomics
0 It is much more
0 Fallacy of composition
0 Money as a resource
demand in micro economics directly depends on the demand depends on the organization's expectations.
individual's expectations
concerned with the price of a individual product the overall production costs is considered
deals with the individual's tax aspects deals with the overall tax aspects of the country.
enables in establishing a method which can analyze Focuses on economies and trades between very large
individual economic forces entities, usually country and world economies.
market behavior of the consumers can be understood emphasizes money policy, world inflation, exchange rates,
which is very much helpful in decision making free trade, tariffs, and so forth
focuses on small-scale economic decisions, between deals with large-scale economic decisions. It focuses on
individuals and firms. It examines how businesses can countries or continents and large regions, and it generally
be the most successful and why individuals make the has applications for government policy makers
economic decisions that they do.
In microeconomics the questions keep changing, but the In macroeconomics, the questions stay the same but the
answer is always is answered where marginal revenue answers keep changing. An example of macroeconomics is
equals marginal cost. inflation--a rise in the general level of prices.