what is micro and macroeconomics and what is the difference?
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When I think of microeconomics I think of supply and demand. I actually explained supply and demand to my 8-year-old last week. Any enjoyed that conversation so I think that part is easy enough to explain to a 5-year-old if you have an especially bright 5-year-old.
Macroeconomics are all the other things that affect nations and industries and the globe. Things like interest rates, treaties, currency conversions, balance of trade, all the stuff that 5-year-olds really should not be thinking about.
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