Venn diagram: macroeconomics vs. microeconomics – Flashcards
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Considers how prices affect individual buyers and sellers
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Microeconomics
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Companies use it to understand what to sell, what to charge, and how to make
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Microeconomics
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Study of how individuals and businesses behave within certain economic conditions
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Microeconomics
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Examines how goods and services are priced and specific markets
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Microeconomics
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A field of study in economics
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Both
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Used by businesses and individuals make economic decisions
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Both
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Considers unemployment rates
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Macroeconomics
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Studies the production of entire countries
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Macroeconomics
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Considers inflation, recession, international trade, and consumer confidence
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Macroeconomics
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Considers gross domestic product (GDP)
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Macroeconomics
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Looks at the economic big picture
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Macroeconomics
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Considers the performance of the economy as a whole
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Macroeconomics
