Question

Point out the important characteristics of macro environment and distinguish it from micro environment

Answer 1

Macro economics is the study of the economy as a whole while micro economics is the study of those factors at individual level. One of the important characteristic that differentiate is the level of study as at macro level, study is started with economy, then looking into sectors or industries and then going into company while if we start with micro economics, this process is reversed. In macro economics, aggregate items are considered rather than individuals. For example, national income, gross national output etc.