DISTINGUISH BETWEEN MACRO-ECONOMICS AND MICRO ECONOMICS
Macroeconomics, as the word macro implies, is the study of supply and demand at the aggregate or society level and the factors that impact and affect the economy of a society, community, nation, or other group. Microeconomics is the study of individual or small group supply and demand factors. Microeconomics focuses on how individuals and small groups of individuals act or impact supply and demand and Macroeconomics focuses on how all individuals and all small groups combine to affect supply and demand.
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