top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration
Print Preview

What is the difference between macro and micro economics?

+4 votes
67 views
posted Jan 28, 2015 by anonymous

Share this question
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

1 Answer

+3 votes

Economics can be described as the social science that examines how people use limited resources to produce, distribute, and consume goods and services to satisfy their unlimited needs and desires. Although microeconomics and macroeconomics are not the only disciplines and paths of specialization to exist within the broader context of economics, these two related, tightly bound, but nonetheless disparate fields are likely the most prominent.

Microeconomics vs. Macroeconomics

Microeconomics and macroeconomics do exactly what their names indicate.

Microeconomics focuses on close-up snapshots of people, businesses, and non-profit organizations acting within economies.

Macroeconomics zoom out to concentrate on the big picture of broader trends within those economies.

Both fields use the same concepts. microeconomics nor macroeconomics is independent and thus separate from the other. Individual economic actions cannot be understood without the context of their economies while economies cannot be understood without understanding the individual actors that constitute them.

answer Jan 29, 2015 by Jdk
Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Bangalore-560102
Karnataka INDIA.
QUERY HOME
...