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"The micro aspects of economics, concerning the decision-making of individuals. Microeconomics analyses the choices of consumers (who can be individuals or households) and firms in a variety of market situations. Its aim is to explore how choices should be made, and to provide an explanation of choices that are made..."
-- Excerpt from the definition of "microeconomics" in A Dictionary of Economics: Oxford University Press (2009)
"The macro aspects of economics, concerning the determination of aggregate quantities in the economy. Macroeconomics considers what determines total employment and production, consumption, investment in raising productive capacity, and how much a country imports and exports..."
-- Excerpt from the definition of "macroeconomics" in A Dictionary of Economics: Oxford University Press (2009)
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