Show the difference between microeconomics and macroeconomics.



Micro-economics
Macroeconomics
(i) The branch of economics that studies the behavior of an individual consumer, firm family is known as microeconomics. 
(i) The branch of economics that studies the behavior of the whole economic is known as Macroeconomics.
(ii) Micro economics deals with individual part of the different values.
(ii) Macroeconomics deal with different economic variable in aggregate scenes.
(iii) It deals with equilibrium of a single market that is partial equilibrium.
(iii) it related with interrelated equilibrium.
(iv) It is narrow in scope and interpret the small constitutes of the entire economy.
(iv) It has a wide scope and interprets the economy of a country as a whole.
(v) It helps in developing policies appropriate resource distribution at firm level.
(v) It helps in developing policies appropriate resource distribution at economy level such as inflation, unemployment level etc.
(vi) It is known as price theory.
(vi) It is known as income theory.
(vii) It is applied to operational or internal issues.
(vii) It is applied to environment and external issues.
(viii) It does not consider socioeconomic factor.
(viii) It consider different socioeconomic factor.
(ix) Example: Individual Demand, price of a product etc.
(ix) It consider different socioeconomic factor.


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