What are Micro economy and macro economy?

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2026-03-07 18:25

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The main difference between macro and micro economics is the areas which they deal with.

Macroeconomics takes into account the whole economy, such as government policies, and the supply and demand for ALL goods and services in an economy.

Microeconomics deals with individual goods and services and how the demand and supply of different products varies in relation to price, income or the price of other goods.

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