Question by  AlanG (3)

What is a microeconomics?

I don't understand why it is a separate field of study?


Answer by  Desine (427)

It's the study of what small groups and individuals are likely to do in an economy. It's a separate field of study because small groups and individuals act differently from large groups.


Answer by  patti (29325)

Macroeconomics is the study of economics in general, how economies work, unemployment, GDP, world markets, etc. Microeconomics focuses on consumerism and the relationships between buyers and sellers.

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