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Differences between microeconomics and macroeconomics

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Discuss the differences between microeconomics and macroeconomics.

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Microeconomics is concerned with the market behavior, interaction between buyers and sellers and factors influencing their choices and decision making process of individuals, households and firms. It basically focuses on the supply and demand and determination of price and output in individual markets.

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Differences between microeconomics and macroeconomics are discussed in the solution.