Question

What is micro and macroeconomics? Explain with examples.

Answer 1

Answer:

Macroeconomics is the study of the economy as a whole. Microeconomics is the study of the individual firm and the effects of individual decisions. Unemployment, interest rates, inflation, GDP, all fall into macroeconomics. Understanding the incentives behind why people make the choices they do is the microeconomics.

Answer 2

Answer:

Microeconomics is the study of particular markets, and segments of the economy. ... Macro economics is the study of the whole economy. It looks at 'aggregate' variables, such as aggregate demand, national output and inflation

Explanation:

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