Micro vs Macroeconomics Flashcards
1
Q
microeconomics
A
- individuals
- unique markets
- idiosyncratic businesses
- supply, demand, and market equilibria
- health care insurance
- community credit union
- automobile manufacturers
- single market structure
- 1
2
Q
macroeconomics
A
- regional, national, and global economies
- GDP
- inflation
- unemployment
- decisions which effect entire nations
3
Q
in microeconomics, scarce resources are turned into what?
A
unlimited products
