Venn diagram: macroeconomics vs. microeconomics
A field of study in economics
Both
Used by businesses and individuals make economic decisions
Both
Considers gross domestic product (GDP)
Macroeconomics
Considers inflation, recession, international trade, and consumer confidence
Macroeconomics
Considers the performance of the economy as a whole
Macroeconomics
Considers unemployment rates
Macroeconomics
Looks at the economic big picture
Macroeconomics
Studies the production of entire countries
Macroeconomics
Companies use it to understand what to sell, what to charge, and how to make
Microeconomics
Considers how prices affect individual buyers and sellers
Microeconomics
Examines how goods and services are priced and specific markets
Microeconomics
Study of how individuals and businesses behave within certain economic conditions
Microeconomics
