Economics seeks to understand the functioning of the marketplace and its relevance for firms.

 

Microeconomics examines consumers, firms and workers within markets, seeking to understand

 

- why prices change for particular products,

- what influences the costs of firms, and

- what will influence the firm's level of productivity.

 

Macroeconomics is the examination of the economy as a whole, and, therefore, considers issues such as

 

- the level of economic activity and growth,

- the level of prices and inflation,

- employment and unemployment, and

- international trade and FDI, Balance of Payment, and exchange rates.

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