Microeconomics only looks at the behavior of one consumer or one firm in a market, while macroeconomics looks at the behavior of an entire industry or group of consumers.

Question

Quizplus · Accepted Answer

This statement is not accurate. Microeconomics studies the behavior of individual consumers and producers in a market, while macroeconomics examines the aggregate behavior of the entire economy, including industries, groups of consumers, and government policies.

Microeconomics Only Looks at the Behavior of One Consumer or One