Answer to Question #212416 in Microeconomics for Emmanuel Kiptoo

Question

using the latest budget statement for kenya june 2021,identify micro and macro aspects in relation to economic development and responses to economic shocks(exchange rates,prices and pandemics)

Answer 1

Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach.