What do the terms "macroeconomics" and "microeconomics" mean?

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  • Oiy
    Lv 4
    6 months ago
    Favorite Answer

    Microeconomics means the economics of one unit or individual. It could be a firm or a consumer. macroeconomics is not a sum of microeconomics. It deals with an aggregate unit, or demand and supply. It has its own rule which is not the same as microeconomics. It might also create conflict. More individual saving is great for individual future. But it is bad for the economy.

  • Bill
    Lv 6
    6 months ago

    macroeconomics refers to a countries budget and the way the overall economy is handled

    micro economics refers to small economiocal management like a company and the way it is run

  • 6 months ago

    The big picture and the little picture ... of how business and money (economics) are viewed and reported.

  • 6 months ago

    in terms of sociology, macro is large scale things. for example how something impacts society as a whole.

    micro is smaller scale things, for example how something impacts an individual or a much smaller group

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  • 6 months ago

    What do you mean?

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