Question #179455
Explain the difference between macroeconomics and microeconomics.How are these two field related?
Expert's answer
The difference;
Macroeconomics studies the economy as a whole and therefore looks at the aggregate markets.
Microeconomics studies individual factors in the economy therefore it is concerned with its subcomponents.
Related since;
Economics is divided into two categories: microeconomics and macroeconomics. The both study decision that is
Microeconomics is the study of individuals and business decisions,
while macroeconomics looks at the decisions of countries and governments.
