Differences between microeconomics and macroeconomics

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1. Microeconomics is suppose to be the study of scarce resources. Here, consumers [both individuals and organizations] must make allocation decisions. These 3-basic trade offs include which goods or services are to be manufactured, how to produce them, and who gets them. Briefly explain the three trade-offs within a specific good/service within Florida

2. You have been asked to give a speech at a meeting at your local Chamber of Commerce. The questions you have been asked to explain during your speech are listed here:

What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
Would you give an example of a microeconomic decision you've made at work or home? What factors contributed to making that decision?
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 no: EM1368095

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