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

3395 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is inflation? What is the difference between real and nominal GDP and why is it important to measure GDP in real growth terms?


Evaluate the likely microeconomic effects of government intervention in the UK housing market.


Buyers in the market for iPhones learn that the price of the Samsung Galaxy has increased. Explain how this would shift demand in the market for iPhones.


What is the law of diminishing returns?


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