food chain, while the macro insights about the overall food chain help to explain the environment in which

individual plants and animals live.

In economics, the micro decisions of individual businesses are influenced by whether the macroeconomy is

healthy. For example, firms will be more likely to hire workers if the overall economy is growing. In turn,

macroeconomy's performance ultimately depends on the microeconomic decisions that individual

households and businesses make.

Microeconomics

What determines how households and individuals spend their budgets? What combination of goods and

services will best fit their needs and wants, given the budget they have to spend? How do people decide

whether to work, and if so, whether to work full time or part time? How do people decide how much to save for

the future, or whether they should borrow to spend beyond their current means?
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