What is the difference between macro and micro economics?

Macro economics is the larger picture, how the economy works for the whole country or region. Micro economics examines how things work in a smaller level, examining one industry, business or group of invidividuals and how limited resources are allocated.

Answered by Anne H. Economics tutor

3379 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Discuss how lower interest rates can affect an economy such as the UK.


Explain the key characteristics of a monopoly.


Explain how price and output are determined for a firm in a monopolistically competitive market, in both the short run and the long run


How should I approach a data-response question?


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2024

Terms & Conditions|Privacy Policy