Micro- economics:
Micro is a Greek word which means
small micro economics is the study of the smallest part of the economy. It is
the study of individual decision making units. i.e. price of a particular
commodity, a consumer, income, etc. the microeconomics or the price theory thus
is the study of individual parts of the economy. It is economic theory in microeconomics
we set, consider whet determine the price of land and capital and enquire into
the strength and weakness of market”.
According to Leftwich
“Microeconomics theory or price
theory deals with the economic behavior of individual decision making units
such as consumers, firs etc”.
Macro-economics:
Macro is a Greek word, which means
large. Macro economics is the study of aggregate. It studied the economic
system as a whole. It deals with total or big aggregates such as national
income, aggregate saving and investment etc.
According to Boulding.
“Macro
economics deals not with single quantities, but with aggregates to these
quantities in short macro-economics is the study of the structure and
performance of national economics”.
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