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Among the most common-and potentially most confusing-of these contexts is economics. Typically, the exact difference in macro ’s bigness and micro ’s smallness depends on the context they are being used in. For example, the word macrocosm means “the universe as a whole,” while the word microcosm means “a little world or a world in miniature.” And a macrofossil is a fossil that is large enough to be seen with the naked eye, while a microfossil is a tiny fossil that you need to magnify to see. QUESTION TWO 25 Use the table below relating to Marginal Utility Theory to answer Questions 2.1 to 2.2. Provide examples to motivate your answer. Often, macro- and micro- are used in pairs of words that refer to comparatively large and small things. 1.2 Distinguish between microeconomics and macroeconomics according to economic theory. The prefix micro- is used to mean “small” or “small in scope” in words like microscope (“a device used to look at small things”) or micromanage (“to control even the smallest details”). The prefix macro- is used to mean “large,” “long,” or “excessive” in words like macromolecule (“a very large molecule”). We get the words macro and micro from their combining forms macro- and micro-, which are used as prefixes. On the other end of the scale, the word micro describes something that is very small in scope or ability, as in James’s laptop is so old that it doesn’t have a micro SD slot. In computing, a macro is “a set of keystrokes or mouse clicks created to perform a specific task or set of tasks.” microĪs a word, macro describes something that is very large in size, scale, or scope, as in When Rachita looked at the water contamination problem from a macro level, she saw how it affected many nearby towns.īe careful not to confuse this sense of macro with its tech sense. In this article, we’ll put our money where our mouth is and break down the difference between macro- and micro- while explaining how they are used to mean different things in the words macroeconomics and microeconomics. In particular, it is often unclear how they are used in the context of economics. People often wonder about the difference between macro and micro and their combining forms, macro- and micro. Micro- is used as a combining form meaning “small” or “localized.” Macro- is used as a combining form meaning “large” or “great.” The word micro describes something that is very small or something related to things that are small in size or scope. The word macro describes something that is very large or something that is related to things that are large in size or scope. That ground can be divided into two parts: Microeconomics focuses on the actions of individual agents within the economy, like households, workers, and businesses Macroeconomics looks at the economy as a whole.
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