BASIS |
MICRO ECONOMICS |
MACRO ECONOMICS |
Meanig |
study of the behaviour of individual units of an economy |
study of the behaviour of aggregates of the economy as a whole |
Tools |
demand and supply |
aggregate demand and aggregate supply |
Objectives |
to determine price of a commodity or factors of production. |
to determine income and employment level of the economy |
Other name |
price theory |
income and employment theory |
Examples |
individual income,individual output |
national income, national output |