The basic difference between macroeconomics and microeconomics is: O microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy O microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms O microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
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The basic difference between macroeconomics and microeconomics is:
O microeconomics concentrates on the behaviour of individual consumers and firms while
macroeconomics focuses on the performance of the entire economy
O microeconomics concentrates on individual markets while macroeconomics focuses primarily on
international trade
microeconomics concentrates on the behaviour of individual consumers while macroeconomics
focuses on the behaviour of firms
O microeconomics explores the causes of inflation while macroeconomics focuses on the causes of
unemployment
Transcribed Image Text:The basic difference between macroeconomics and microeconomics is: O microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy O microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms O microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment
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