Macroeconomics is the branch of economics that focuses on the overall performance and behavior of an economy as a whole, rather than on individual markets or specific firms. It looks at variables such as inflation, unemployment, economic growth, and fiscal and monetary policies.
On the other hand, Microeconomics is the branch of economics that focuses on the behavior of individual consumers and firms, and how their interactions in specific markets determine the prices of goods and services. It looks at variables such as supply and demand, production costs, and market structures.
In summary, Macroeconomics looks at the economy as a whole, while Microeconomics looks at individual markets and entities within the economy.
1. Define Macroeconomics and differentiate it from Microeconomics?�
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