EBK MICROECONOMICS

To analyze the difference between microeconomics and macroeconomics.


<p>To analyze the difference between microeconomics and macroeconomics.</p>


Microeconomics Macroeconomics It deals with the individual market. It deals with the economy as a whole. It analyses the effect of price on the individual good. It analyses the effect of general price level. It deals in the individual labor demand and supply. It deals in the determination of income and employment level in the economy. It involves supplier and the consumer. It includes businesses, households and government. Example- Individual Demand, Individual Supply. Example- Aggregate Demand, Aggregate Supply. Following is the graph of demand and supply in microeconomics: Following is the graph of demand and supply in macroeconomics:


<table border="1" cellspacing="0" cellpadding="5"><tbody><tr border-bottom: solid 1px black;><td valign="top"><strong>Microeconomics</strong></td><td valign="top"><strong>Macroeconomics</strong></td></tr><tr border-bottom: solid 1px black;><td valign="top">It deals with the individual market.</td><td valign="top">It deals with the economy as a whole.</td></tr><tr border-bottom: solid 1px black;><td valign="top">It analyses the effect of price on the individual good.</td><td valign="top">It analyses the effect of general price level.</td></tr><tr border-bottom: solid 1px black;><td valign="top">It deals in the individual labor demand and supply.</td><td valign="top">It deals in the determination of income and employment level in the economy.</td></tr><tr border-bottom: solid 1px black;><td valign="top">It involves supplier and the consumer.</td><td valign="top">It includes businesses, households and government.</td></tr><tr border-bottom: solid 1px black;><td valign="top">Example- Individual Demand, Individual Supply.</td><td valign="top">Example- Aggregate Demand, Aggregate Supply.</td></tr><tr border-bottom: solid 1px black;><td valign="top">Following is the graph of demand and supply in microeconomics:
<p>&emsp;&emsp;<img src="https://content.bartleby.com/tbms-images/9781118883228/Chapter-1/images/html_83228-1-1re_1.png" alt=""></p></td><td valign="top">Following is the graph of demand and supply in macroeconomics:
<p>&emsp;&emsp;<img src="https://content.bartleby.com/tbms-images/9781118883228/Chapter-1/images/html_83228-1-1re_2.png" alt=""></p></td></tr></tbody></table>


Microeconomics	Macroeconomics
It deals with the individual market.	It deals with the economy as a whole.
It analyses the effect of price on the individual good.	It analyses the effect of general price level.
It deals in the individual labor demand and supply.	It deals in the determination of income and employment level in the economy.
It involves supplier and the consumer.	It includes businesses, households and government.
Example- Individual Demand, Individual Supply.	Example- Aggregate Demand, Aggregate Supply.
Following is the graph of demand and supply in microeconomics:	Following is the graph of demand and supply in macroeconomics:

To analyze the difference between microeconomics and macroeconomics.

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