Microeconomics only looks at the behaviour of one consumer or one firm in a market, while macroeconomics looks at the behaviour of an entire industry or group of consumers.

Question

Quizplus · Accepted Answer

The statement is incorrect. Microeconomics studies the behaviour of individual consumers and firms in a particular market, while macroeconomics examines the overall performance of the economy, including industries, groups of consumers and the country's overall economic indicators.

Microeconomics Only Looks at the Behaviour of One Consumer or One