You are asked to address a professional meeting and explain microeconomics, macroeconomics and their differences. Please answer the following questions:
Question 1. What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
Question 2. Would you give an example of a microeconomic decision you've made at work or home? What factors contributed to making that decision?
Question 3. Would you give an example of how a macroeconomic phenomenon has impacted a personal or business decision of yours? In the end, what was the result of your decision?
Reference:
Perloff, J. M. (2007). Microeconomics (4th ed.). New York: Pearson Addison Wesley.