Approaches to economics:
Micro and macro economics
1) Micro economics : Micro means a millionth part. It is defined as that branch of economic analysis which studies the economic behaviour of an individual unit maybe a person, a particular household or a specific firm. It is the study of one /single/ particular unit than all the units combined together. It gives a worm view of the entire economy.
2) Macro economics: it is that branch of economic analysis which studies the behaviour of not one particular unit but all the units combined together. It is a study of 'aggregates'.
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