Wednesday, May 25, 2022

Micro Vs Macro Economics

Don't forget to subscribe the channel and hit the bell icon to get notified with my latest update hey leonards welcome back to my another video today in this video we are going to understand what is microeconomics as well as macroeconomics so without wasting water let's come to .

The video first let us understand what is economics economics is a study which provide any organization information related to consumers related to uh competitive products related to the demand of market .

Related to the needs choices of consumer related to government policies related to upcoming future needs and so on so that they can understand better and they can produce the goods and services which will help them to get more profit at the end if they understand the market if they .

Understand that geography needs and preferences they understand what sort of government is running over there they can select a proper services or the proper product so that they can easily sell in the market and they can make more profit .

At the end economics has been divided into two parts microeconomics as well as macroeconomics let us see what is microeconomics microeconomics refers to the study of small individual units of an economy in another word we can say microeconomics deals with the analysis .

Of small individual units of the economy such as individual consumers individual firms and small aggregates or group of individual units that is output of particular goods and services produced by single firm outputs of particular households .

Individual price of goods and services individual wage and incomes microeconomics help in solving certain theories which are first demand theory in this theory we understand the buying behavior of customers second we have production theory .

Where we understand or where we explains the relationship between input and output how much resources has been used by the company and finally how much final product a company has produced third we have price theory price theory involves determination of prices of a product or services under different .

Market fourth we have profit theory profit theory help any organization to measure the return or capital or total profit when any organization sell their goals and services in the market how much profit they have generated this theory provide the information .

Fifth we have capital theory capital theory enables managers to make capital and investment decisions which determine the success of any organization now let us see macroeconomics macroeconomics denotes to the study of an economy as a whole in other word macroeconomics applies to .

The study of broad economic aggregates like label of employment genera general price level aggregate national output income investment trade cycle aggregate demand aggregate supply etc so here we can say macroeconomic is the study of whole economy .

Macroeconomics help in understanding the factors like type of economy system of the country pattern of national income employment saving and investment of the country functioning of the financial sector of the country structure and nature of foreign trade in the country .

Trends of labor supply and capital market strength of the country economic policies of government value system of society property rights customs and habits political system of government functioning of private and public sectors impact of globalization of the country .

Thus it is not possible for an individual organization to deal with all these factors that's why all organizations of a country together stimulate its economic environment so here we have seen what is microeconomics as well as macro economics micro economics which .

Provide information related to individual market whereas macroeconomics provide information related to whole economy microeconomics provide information related to effect on price of a good whereas macroeconomic provide general price label information .

Microeconomics provide individual labor market information whereas macroeconomics provided information related to employment or unemployment macroeconomics focus on aggregate demand but microeconomics focus on .

Individual consumer behavior microeconomics provide information related to supply of goods whereas macroeconomics provide information related to productive capacity of an economy so here we can say microeconomics provide the information in a .

In a smaller uh area whereas macroeconomics provide information related to whole economy so this was today's video i hope you liked the video if yes then don't forget to give a thumb up and subscribe the channel to get notified with my latest update if you have any queries then don't .

Forget to let me know in the comment box see you soon with some more interesting videos and topics till then have a nice day bye

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