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

Question

Quizplus · Accepted Answer

The main difference between microeconomics and macroeconomics is that microeconomics studies allocation of resources, while macroeconomics studies 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