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What is the difference between microeconomics and macroeconomics?
What is macroeconomics best described as?
What is macroeconomics based on?
Microeconomics. individual units that comprise the economy. ex. a person choosing b/t taking a job in GA or FL. ex. firm choosing to open another factory. Macroeconomics. the study of the broader economy. ex. inflation. ex. economic growth and productivity. ex. unemployment.
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What is the difference between microeconomics and macroeconomics? Microeconomics deals with individual markets, businesses, consumers, investors and workers that make up the economy. Macroeconomics deals with national and global economies
Unlike microeconomics, macroeconomics analyzes the use of insufficient resources and problems that arise at the level of the economy as a whole such as inflation or deflation, unemployment, economic growth rates and business cycles. There is a clear boundary between certain categories of micro and macroeconomics.
