# Define your understanding of the concept of economics and clearly distinguish between Microeconomics & macroeconomics, what is the significance of studying economics?

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###### Question:

Define your understanding of the concept of economics and clearly distinguish between Microeconomics & macroeconomics, what is the significance of studying economics?

## Answers

Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. ... Macroeconomics takes a top-down approach and looks at the economy as a whole, trying to determine its course and nature

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