What are examples of microeconomics and macroeconomics?

1 Answer
Mar 14, 2018

Microeconomics: Small Scope
Macroeconomics: Large Scope
More details below:


Microeconomics, as the prefix says, is a narrow scope of the economy. It deals with firms and how individuals make decisions.

Macroeconomics is large scale, hence macro-. It is concerned with the economy of nations, trade, and GDP, etc.

In short, microeconomics takes into account individuals, whereas macroeconomics takes into account the economy of a nation as a whole, and several other broad factors.

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