Microeconomics and Macroeconomics
Microeconomics
Studies individual consumers, firms, and markets.
Examines how prices are determined.
Focuses on demand, supply, costs, and profits.
Examples:
Price of a mobile phone.
Demand for football jerseys.
Production decisions of a company.
Macroeconomics
Studies the economy as a whole.
Focuses on national income, inflation, unemployment, and economic growth.
Helps governments make economic policies.
Examples:
India's inflation rate.
National unemployment rate.
Economic growth of a country.
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