Venn diagram: macroeconomics vs. microeconomics

Considers how prices affect individual buyers and sellers

Companies use it to understand what to sell, what to charge, and how to make

Study of how individuals and businesses behave within certain economic conditions

Examines how goods and services are priced and specific markets

A field of study in economics

Used by businesses and individuals make economic decisions

Considers unemployment rates

Studies the production of entire countries

Considers inflation, recession, international trade, and consumer confidence

Considers gross domestic product (GDP)

Looks at the economic big picture

Considers the performance of the economy as a whole