Activity 1

MICROECONOMICS MACROECONOMICS

the study of how the study of an

individuals and economy as a whole
companies make has a broader focus,
decisions to allocate such as the impact of
scarce resources fiscal policy, big
is specific and smaller picture causes of
in scale, looking at the unemployment or
behavior of inflation, and how
consumers, the supply government actions
and demand equation impact nationwide
in individual markets, economic growth
and the hiring and Whole Economy (GDP)
wage-setting Inflation (general
practices of individual price level)
companies. Employment/
Individual Markets Unemployment
Effects on price of a
good
Individual Labour
Market