Following are the points of distinction between microeconomics and macroeconomics:

Following are the points of distinction between centrally planned economy and market economy:

Production Possibility Frontier (PPF) is the graph depicting all the possible combinations of two goods (services) that can be produced in an economy by making an efficient and full utilisation of all the resources and given state of technology. It is also known as the Production Possibility Curve (PPC). PPF can be shown with the help of the given figure.

The figure illustrates the production possibilities of the economy. Any point on the curve represents a combination of corn and cotton that can be produced with full utilisation of the economy's resources. The curve represents the maximum amount of corn that can be produced in the economy for any given amount of cotton and vice-versa.

(i) consumers may be motivated to use energy saving electrical appliances. nowadays, electrical appliances with one to five stars available These electrical appliances with maximum use, consume least electricity.
(ii) consumers may be encouraged to use alternate source of energy such as solar energy, wind energy etc.

It will reduce the market price of tea because lesser excise duty will shift the supply curve to the right

In the goods market, the supply of goods is by the firm because they produce the goods and the demand for goods is from the household because they purchase the goods 
In the labour market, the supply of labour is by the household nd the demand for labour is from the firms because they need labour for producing goods

In a market where entry and exit is permitted, each firm supplies the same amount of output. Therefore the equilibrium number of firms in the market is equal to the number of firms required to supply the equilibrium quantity at the prevailing price, \({ P }_{ 0 }\) thus,
\({ n }_{ 0 }=\frac { { Q }_{ 0 } }{ { q }_{ 0f } \ } \\ where; { n }_{ 0 }=Equilibrium \ number \ of \ firms \ in \ the \ market\\ { Q }_{ 0 }=Equilibrium \ quantity\\ { q }_{ 0f }=Quantity \ supplied \ by \ each \ firm\)

Normative economic analysis discusses the economics of 'what ought to be'. In normative economic analysis, the desirability of different mechanisms is checked and recommendations are prescribed for making corrections, if necessary.

Positive economic analysis discusses the economics of 'what is'. In positive economic analysis, the functioning of different mechanisms is analysed and their respective outcomes are figured out for refernce in future.

The subject matter of economics has been studied under two broad branches:
(i) Microeconomics
(ii) Macroeconomics
In microeconomics we study the behaviour of individual decision-making units, such as households and firms. Equilibrium prices and quantities of goods and services are determined through the interaction of individuals in the markets.
In macroeconomics, we study the behaviour of factors affecting the economy as a whole. It focuses on the behaviour of national level aggregates such as national income, total output, employment level, price level, etc. Here, we are interested in finding out how thelevels of these aggregate measures are determined and how these measures change over time.