Question

3. Write the differences between micro and macro economics.​

Answer 1

Answer:

Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments.

Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach.

Explanation:

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Answer 2

• Microeconomics is the study of particular markets, and segments of the economy. It looks at issues such as consumer behaviour, individual labour markets, and the theory of firms.
• Macro economics is the study of the whole economy. It looks at ‘aggregate’ variables, such as aggregate demand, national output and inflation.

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