How microeconomics depends on macroeconomics? Explain in simple and brief..plz don't provide any link
Dear student,
Microeconomics studies the behaviour of single parts (eg households, companies), while macroeconomics studies the behaviour of the economy as a whole. The whole (macro economics) is sum of parts (micro economics) , any individual in the economy has to carry out the economic activities according to the economic activities carried out by all the units of the economy. So, the production of any goods and its sale depends upon the per capita income of the country or the distribution of the national income. Thus, economic activity of every individual depends upon the aggregate economic activities of the economy.
In this way micro economics depends on macro.
Regards
Microeconomics studies the behaviour of single parts (eg households, companies), while macroeconomics studies the behaviour of the economy as a whole. The whole (macro economics) is sum of parts (micro economics) , any individual in the economy has to carry out the economic activities according to the economic activities carried out by all the units of the economy. So, the production of any goods and its sale depends upon the per capita income of the country or the distribution of the national income. Thus, economic activity of every individual depends upon the aggregate economic activities of the economy.
In this way micro economics depends on macro.
Regards