The primary concern of economic studies is with the choices that are made in seeking to use scarce resources in an efficient manner. The focus of economics is primarily on the behavior and the communication of the economic agencies among themselves. There are various subfields of economics, out of which microeconomics is just one.
Microeconomics concerns itself with the basic and elementary concepts of the economy which includes individuals, markets, and their communication among themselves. In comparison to microeconomics, macroeconomics focuses on an entire economy let’s say, for a country or a region based on the total production, costs, and consumption.
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