distinguish between micro economics and macro economics
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Microeconomics
Use economic models to learn how prices and markets benefit society in the face of scarcity, and then apply those models to analyze policy.
Whereas
Macroeconomics is a branch of economics that studies how an overall economy—the market systems that operate on a large scale—behaves. Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.
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