SELECT * FROM question_mgmt as q WHERE id=5512 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=60 AND chapterId=608 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th micro-economics Introduction to Micro Economics distinguish between microeconomics and macroeconom

Question:

Distinguish between microeconomics and macroeconomics.

Answer:

Point of Difference Microeconomics Macroeconomics
Study Matters It studies about individual economic units like households, firms, consumers, etc. It studies about an economy as a whole.
Deals with It deals with how consumers or producers make their decisions depending on their given budget and other variables. It deals with how different economic sectors such as households, industries, government and foreign sectors make their decisions.
Method The major microeconomic variables are price, individual consumer’s demand, wages, rent, profit, revenues, etc. The major macroeconomic variables are aggregate price, aggregate demand, aggregate supply, inflation, unemployment, etc.
Variables The major microeconomic variables are price, individual consumer’s demand, wages, rent, profit, revenues, etc. The major macroeconomic variables are aggregate price, aggregate demand, aggregate supply, inflation, unemployment, etc.
Theories

Various theories studied are:

  • Theory of Consumer’s Behaviour and Demand
  • Theory of Producers Behaviour and Supply
  • Theory of Price Determination under Different Market Conditions.

Various theories studied are:

  • Theory of National Income
  • Theory of Money
  • Theory of General Price Level
  • Theory of Employment
  • Theory of International Trade


< Previous Question

Next Question >

SELECT ex_no,question,question_no,id,chapter FROM question_mgmt as q WHERE courseId='3' AND subId='60' AND ex_no!=0 AND status=1 and id!=5512 ORDER BY views desc, last_viewed_on desc limit 0,10

  • Popular questions of class 12 Micro Economics

SELECT ex_no,question,question_no,id,chapter FROM question_mgmt as q WHERE courseId='3' AND subId='60' AND ex_no!=0 AND status=1 and id!=5512 ORDER BY last_viewed_on desc limit 0,10

  • Recently Viewed Questions of Class 12 Micro Economics

Comments

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

Comment(s) on this Question


NCERT Solutions

Quick Links

Resources

Support