The difference between microeconomics and macroeconomics is that
A) microeconomics deals with only small numbers while macroeconomics is always dealing with numbers in the billions and trillions
B) microeconomics deals with the economy as a whole while macroeconomics deals with individual firms
C) microeconomics is concerned with the behavior of individual decision-makers while macroeconomics is concerned with behavior of entire economies
D) microeconomics is only useful for small countries while macroeconomics is useful for large countries
E) microeconomics is only useful for large economies like the United States while macroeconomics is only useful for small economies

Question

Quizplus · Accepted Answer

Microeconomics is concerned with the behavior of individual decision-makers (such as firms or households) and how they make economic decisions. On the other hand, macroeconomics looks at the entire economy and how different factors like inflation, employment, and growth affect it. It deals with the aggregate behavior of entire economies. Therefore, option C is the correct answer.

The Difference Between Microeconomics and Macroeconomics Is That