Basic difference between microeconomics (micro) and macroeconomics (macro) is Micro is a term used to describe changes, relationships, or qualities on a smaller size or proportion, while "macro" is a term used to describe variations, relationships, or characteristics on a bigger scale or percentage.
Because The study of economics at the person, group, or firm level is known as microeconomics. The study of a country's economy as a whole is called macroeconomics. The study of microeconomics focuses on problems that affect both people and businesses. Macroeconomics focuses on problems that have an impact on countries and the global economy. Individual income, output, the cost of commodities, and other topics are the main topics of microeconomics. Macroeconomics is the study of aggregates, including overall price levels, national output, and income. 3. Resolving problems with resource allocation and price discrimination are the main objectives of microeconomics. Basic distinctions between "macro" and "micro" include Micro is a term used to describe changes, relationships, or qualities on a smaller size or proportion, while "macro" is a term used to describe variations, relationships, or characteristics on a bigger scale or percentage.
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