What is the study of economics about? How is microeconomics different from macroeconomics?

 

Economics is the study that is concerned with the production of goods and services, consumption and, distribution of goods and services in terms of wealth and wealth creation.

Microeconomics is concerned with decision making processes for individuals and, firms regarding the distribution and allocation of the limited and, scarce resources while Macroeconomics is concerned with the decision making processes of the whole economy that is a nation and, how it can allocate the scarce resources to every citizen.

Macroeconomics is different from microeconomics where macroeconomics deals with the whole economy at large while microeconomics deals with a portion of the economy which is individuals and, firms.