What is the main difference between the two sub disciplines in economics: microeconomics and macroeconomics?
A)microeconomics study goods while macroeconomics study services
B)microeconomics study individuals while macroeconomics study corporations
C)microeconomics study allocation of resources while macroeconomics study economies as a whole
D)microeconomics study local markets while macroeconomics study international markets

Question

Quizplus · Accepted Answer

Microeconomics is the study of resource allocations while macroeconomics study economies as a whole.
Key Takeaway: The behavior of individual consumers in purchasing goods and services as well as the behavior of business in a society comprises the sub discipline of microeconomics. The overall behavior of entire economies and industries such as a Gross National Product (GDP) comprise the sub discipline of macroeconomics.

What Is the Main Difference Between the Two Sub Disciplines