Difference between Micro economic and Macro economics.

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Difference between Micro economic and Macro economics.

Macro economics.

                              Macro economics looks at the economy as a whole or its major components of the economy.

    For example:All consumers,Federal government,US economy

Micro economics.

                              Micro economics focuses on a specific economic unit.
     For example: An individual household,firm or industry.


Both individual and society face economic problems.
Because They need to make choices because wants exceed needs.

Example of economic problems faced by individual's and society's.

Individual's economic problems.
  1. The budget line

Society's economic problems.

  1. land.
  2. labor.
  3. capital.
  4. Entrepreneurial Ability. 
FOR More information.
visit YouTube. 
https://youtu.be/VbAPerjhcR4
https://youtu.be/2ILYtQ_sHB4

 


     

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