How subject matter of macroeconomics are different from subject matter of microeconomics?
How subject matter of macroeconomics are different from subject matter of microeconomics? The basic microeconomic problem is the determination of structure of relative prices and the basic theory is that of demand and supply. The basic macroeconomic problem is the determination of the flow of income and the basic theoretical structure is the model of the circular flow of income. What is the difference between macroeconomics and microeconomics? Microeconomics is the study of economics at an individual, group, or company level. Whereas, macroeconomics is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals...