Macroeconomics vs

macroeconomics and microeconomics

Ragner Frisch

Microeconomics studies the behavior of individual economic entities and small groups of economic entities such as households, business firms, markets, and governments.

<p>Macroeconomics studies economic aggregates such as total output, total demand, aggregate income, total savings, total investment, total employment, and the rise and fall in the general price level, and interest rates.</p> Signup and view all the answers

<p>Microeconomics looks at individual parts of the economy and studies the behavior of individual economic entities, while macroeconomics looks at the economy as a whole and studies economic aggregates.</p> Signup and view all the answers

<p>Macroeconomics and microeconomics</p> Signup and view all the answers

<p>Ragner Frisch</p> Signup and view all the answers

<p>Individual economic entities and small groups of economic entities such as households, business firms, markets, and governments</p> Signup and view all the answers

<p>Economy as an organic whole, economic aggregates such as total output, total demand, aggregate income, total savings, total investment, total employment, and general price level</p> Signup and view all the answers

<p>Allocation of resources, product and factor pricing, theory of economic welfare, and economic efficiency</p> Signup and view all the answers