What is the difference between micro¯o economics?
Economics apply to a broad range of subjects in practical and theoretical ways. Two of the primary ways of looking at economics are with microeconomics and macroeconomics.MicroeconomicsMicroeconomics looks at small-scale portions of the economy and its interactions. For example, certain types of businesses may be compared to one another as part of a microeconomics study.EffectsStudies within microeconomics can influence the way companies and firms operate their businesses. Reflections of microeconomic trends and changes can influence the producers’ decisions as well as the market.MacroeconomicsMacroeconomics studies the economy on a much larger scale; global economies by country or region are often the subject of macroeconomics. Macroeconomics is used to track and predict global changes in the economies it studies.EffectsMacroeconomics is a subject that allows economists to look at large-scale changes in global economies and search for common causes and relationships between them.
