Comparative macro statics

  In real world, the economy is changeable. With the pace of time, macroeconomics variables change and that affect to the static equilibrium. Comparative macrostatics explain movable equilibrium. It makes the comparative study of different equilibriums attained by the economy in the economic activities. It deals with the old and new equilibrium. Like comparative microstatics […]

Macro-static

  Generally every economic activity is affected by size of population, the supply of capital, methods of production, forms of business organization, desire of people etc. Macro-static explains the aggregate relation in a stationary state. It shows the equilibrium of an economy at particular point of time. The macrostatics analysis explains the relation among these […]

What business economics is about? 

  What is economics that means meaning of micro and macro-economics, their importance, types, limitations, their interdependence, their differences and many more. Now, it is time to know how business and economics are attached to each other. That is what we mean by business economics. During production and distribution process, a business firm faces the […]

Difference between microeconomics and macroeconomics

  Although micro and macroeconomics both are important aspects of economics, they both have different meaning and working way. Microeconomics Macroeconomics 1.   It is concerned the individual quantities, income price output.   1.   It is concerned to aggregates of  individual quantities, national income, general price level & national output 2.   It studies the aggregates related […]

Interdependence of Micro and Macro Economics

  Microeconomics and macroeconomics are two major branches of economics. So, they both are interdependent. Firm wise, individual wise, sector wise, district wise study of any economic activity is microeconomics. Overall study of all those study is macro study. So, any change in firm or individual or sector or district strongly affect to the national […]

Limitations of Macroeconomics

  Although macroeconomics deals with all the national problems and provides various measures, it signifies various national contemporary situations; it has some limitations in practical field. They are – ►   Fallacy of composition: Sum total of individual activities is aggregate economy. But what is true for individual may not be true for whole economy. For […]

Limitation of microeconomics

  Microeconomics is most important branch of economics. It is also known by foundation for whole economic analysis. It describes about the individual behavior of society and firm. According to William Flenar,”Micro economics is related to the individual decision making units.” It tells us how price and output level of any commodity is determined? How […]

Types Of Micro Economics

  The analysis of microeconomics is always affected by time period. But there are still some economists who do not believe the time value in microeconomics analysis. Based upon the equilibrium of microeconomics in the different situation and relationship between time and different economic models, the microeconomics is divided into three different types, namely Microsatics, […]

Micro Economics

The term ‘micro’ is derived from a Greek word “mikros” whose meaning is small. Thus microeconomics denotes the study of small individual activities. Microeconomics studies the economic action and behavior of individual units and small group of individual units. Thus it is a branch of economic analyses that studies the economic behaviors of individual firm, […]

What is Economics?

  With the publication of “An inquiry into the nature and causes of wealth of nation” in 1776 by Adam Smith, economics starts to be known as a separate disciple in this dynamic world. Before this economics was a part of other social disciples. According to Adam Smith, “The study of the nature and causes […]