Microeconomics studies individual economic agents, macroeconomics focuses on the economy as a whole, economics examines resource allocation, and economic aggregate represents total economic activity.
Microeconomics focuses on individual economic agents like consumers and businesses, while macroeconomics studies the economy as a whole, including aspects like total production and employment levels.
Economics is the social science that examines how societies allocate scarce resources to fulfill unlimited wants and needs.
Economic resources are the inputs used to produce goods and services, while an economic aggregate represents the total level of a particular economic activity in an economy.
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