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

4440 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Explain using a diagram why when people have medical insurance the PED for medical treatment is likely to be very low whilst the YED is likely to be high


What are the conditions of perfect competition?


Why is the long-run Phillips Curve vertical?


What is price discrimination?


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 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences