What is the difference between microeconomics and macroeconomics?

Microeconomics focuses on the behavior of individual households and firms, examining how they make decisions about resource allocation, production, and consumption. It looks at specific markets, the pricing of goods and services, and the interactions between buyers and sellers. Macroeconomics, on the other hand, deals with the economy as a whole, studying aggregate indicators such as GDP, unemployment rates, inflation, and national income. While microeconomics analyzes the smaller components of the economy, macroeconomics takes a broader view, considering the overall performance and trends of the national or global economy.