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The difference between microeconomics and macroeconomics is

Economics Dec 13, 2020

The difference between microeconomics and macroeconomics is

Expert Solution

The difference between microeconomics and macroeconomics is the scale that is being examined. Microeconomics looks at the decisions individual people and companies are making and how the supply of certain goods and services affect these decisions, including how companies and people make investments. Macroeconomics, on the other hand, looks at things on a larger scale. Macroeconomics examines economies as a whole and how the supplies of goods and services affect the large-scale economic actions, including decisions being made on an international level. Microeconomics would look at how an individual person made decisions if they became unemployed, while macroeconomics looks at the decisions of a country that might lead to higher unemployment rates.

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