How do macroeconomics and microeconomics interrelate?

Answer by  aks (221)

Macroeconomics is concerned with economic decisions on a large scale whereas microeconomics is concerned with economic decisions on a small scale. Microeconomics is the study of economics from the perspective of the individual. It studies the effect of economy on the people in their day-to-day lives whereas macroeconomics studies how the economy affects the world as a whole.

Answer by  mani (813)

The study about a small scale is called Microecnomics where as macroeconomics is on a large scale one is reflected with another, but on different scales

Answer by  Anonymous

Microeconomics is the study of an individual's decision, be it a firm (to buy a plant) or a family (how much to spend & save). These decisions affect the economy of a country as a whole. Macroeconomics is the study of this economic conditions.