Micro and Macro Economics

Economics is the study of how people make choices in the face of scarcity. It's about how we use our limited resources to satisfy our unlimited wants and needs.  It's a vast field, but here are the main types:


Microeconomics is like looking at a single tree. It focuses on the individual parts and how they work together. It's about things like how a business decides what price to charge for its products, or how a consumer chooses between different goods.


Macroeconomics is like looking at the entire forest. It focuses on the big picture and how the economy works as a whole. It's about things like unemployment, inflation, and economic growth.



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