Competence
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Can some distinction what it means by micro and macro effects in economics paper 3 25 marker?

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Rtdsv
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(Original post by Competence)
Can some distinction what it means by micro and macro effects in economics paper 3 25 marker?

Thanks
I dont do edexcel but i presume it means the affect on macroeconomic objectives but also aspects like effefiency

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MaliciousMelon
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Micro usually focuses on firms and consumers (Consumer/producer surplus, Revenue, Market Failure) while macro effects generally mean the effect on the global or UK economy (inflation, BOP, Gdp growth) etc
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