3 Questions
What does microeconomics focus on?
The behavior of individuals, households, and businesses
Which branch of economics looks at the economy as a whole?
Macroeconomics
What does macroeconomics study?
The behavior of the overall economy
Study Notes
Introduction to Microeconomics and Macroeconomics
Microeconomics and macroeconomics are two distinct branches of economics that focus on different levels of economic analysis. Microeconomics, which stands for "small economics" in Greek, studies the behavior of individuals, households, and businesses, while macroeconomics, which stands for "big economics" in Greek, looks at the economy as
Explore the fundamental concepts of microeconomics and macroeconomics, the two distinct branches of economics that analyze different levels of economic behavior and activity. Understand the focus on individual, household, business behaviors in microeconomics, and the broader perspective on the economy as a whole in macroeconomics.
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