Asked by Amber Lloyd on Apr 30, 2024
Verified
Macroeconomics explains the behavior of individual households and business firms;microeconomics is concerned with the behavior of aggregates or the economy as a whole.
Macroeconomics
The branch of economics dealing with the structure, performance, behavior, and decision-making of an economy as a whole, rather than individual markets.
Microeconomics
The branch of economics that studies the behavior of individuals and businesses in making decisions on the allocation of limited resources.
- Distinguish between macroeconomics and microeconomics.
Verified Answer
FR
Faizan RafiqMay 01, 2024
Final Answer :
False
Explanation :
The statement is reversed. Macroeconomics is concerned with the behavior of aggregates or the economy as a whole, while microeconomics explains the behavior of individual households and business firms.
Learning Objectives
- Distinguish between macroeconomics and microeconomics.