Question

Give Reasons or explain the following statements.
Macro Economics is different from Micro Economics. Or Macro Economics is wider than Micro Economics.

Answer 1

Macro Economics is different from Micro economics.

• Micro economics: It is that part of economics which deals with the individual units of the economy.
  
• Macroeconomics: It is that part of economics which deals with the economic issues that take place on a large scale.
  
• Macroeconomics is wider than Microeconomics as it takes into account aggregate demand and aggregate supply and aims to determine income and employment level of the economy. Whereas microeconomics takes into account the demand and supply of individual units.