Final answer:
Microeconomics focuses on individual agents in the economy, while macroeconomics looks at the economy as a whole.
Step-by-step explanation:
Microeconomics and macroeconomics are two different perspectives on the economy. Microeconomics focuses on the actions of individual agents within the economy, like households, workers, and businesses. Macroeconomics, on the other hand, looks at the economy as a whole, focusing on broad issues such as growth of production, unemployment, inflation, government deficits, and levels of exports and imports.
For example, microeconomics would analyze how a household's decision to save or spend money affects their individual well-being, while macroeconomics would examine how an increase in government spending affects the overall economy.
In summary, microeconomics and macroeconomics are complementary perspectives that provide a comprehensive understanding of the economy from both an individual and a collective standpoint.