Question

explain the scope of micro and macro economics​

Answer 1

microeconomics is a branch of economics that studies the behaviour of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.whereas macroeconomics,

the branch of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

Answer 2

Explanation:

Scope and Purpose of Microeconomics and Its Significance in Buisness Decision Making. ...

1. Microeconomics refers to the study of individualistic economic behavior at the time of making economic decisions. It studies an individual consumer, producer, manager or a firm, price of a particular commodity or a household.

2. It is that part of economic theory which studies the economy in its totally or as a whole. ....In short, Macroeconomics is the study of national aggregates or economy-wide aggregates. In a way it is like study of economic forest as distinguished from trees that comprises the forest.