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SCOPES OF ECONOMICS - Coggle Diagram
SCOPES OF ECONOMICS
MACROECONOMICS
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The Concerns:
- output growth
- unemployment
- inflation and deflation
Examples:
total industrial output, consumer prices, total wages and salaries, total number of jobs, unemployment rate
The Concerns:
- Individual Markets
- Effect on price of a good
- Individual Consumer Behavior
Examples:
How much steel, food prices, apartment rents, Poverty, Number of accountants
MICROECONOMICS
-Individual industries
-individual unit of household, the firm, the industry
-"TREES"