The basic difference between macroeconomics and microeconomics is:
A) microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.
B) microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms.
C) microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.
D) microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the behavior of individual consumers and firms in specific markets, while macroeconomics looks at the performance of the entire economy, including topics like inflation, unemployment, and international trade. While it's possible for macroeconomics to touch on topics like inflation and unemployment, its focus is broader than those specific issues.

The Basic Difference Between Macroeconomics and Microeconomics Is