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

Answer 1

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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.

Answer 2

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

Answer 3

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

Answer 4

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

Answer 5

What do you mean?