14. Microeconomics and Macroeconomics Microeconomics The study of how households and businesses make choices, how they interact in markets, and how the government attempts to influence their choices. Macroeconomics The study of the economy as a whole, including topics such as inflation, unemployment, economic growth National income etc.
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30. Goods and services Consumer expenditure Wages, rent dividends, etc. Services of factors of production (labour, etc) The circular flow of goods and incomes GOODS MARKETS FACTOR MARKETS