Macroeconomics differs from microeconomics in that:
A) the concept of scarcity applies to the latter but does not apply to the former.
B) the latter studies individual markets while the former studies groups of markets, including the whole economy.
C) rational decisions are relevant to the former but not the latter.
D the former is the study of how people make choices under conditions of scarcity while the latter is . concerned with the results of those choices for society.

Question

Quizplus · Accepted Answer

Macroeconomics focuses on the economy as a whole or large sectors of it, while microeconomics looks at individual markets and the decisions of single economic actors (like households and firms).

Macroeconomics Differs from Microeconomics in That