Different between microeco and economics?
Solution
MICRO ECONOMICS:In this branch of economics, we study the problem of scarcity and choice at an individual level.
2) main problem is to determine the allocation of resources
3) it deals with determination of price and output in individual market.
MACRON ECONOMICS: In this branch of economics, we study the problem of scarcity and choice at an economy level.
2) main problem is to determine the level of income and output.
3) it deals with the determination of general price level and national output in the country.
Note: As you mention, differentiate between microeco and economimc, i have assumed it is macro economics not economics only. and provided the answer on the basis of my assumption.
MICRO ECONOMICS:In this branch of economics, we study the problem of scarcity and choice at an individual level.
2) main problem is to determine the allocation of resources
3) it deals with determination of price and output in individual market.
MACRON ECONOMICS: In this branch of economics, we study the problem of scarcity and choice at an economy level.
2) main problem is to determine the level of income and output.
3) it deals with the determination of general price level and national output in the country.
Note: As you mention, differentiate between microeco and economimc, i have assumed it is macro economics not economics only. and provided the answer on the basis of my assumption.