![]() It consists of individuals, groups, organizations, agencies and others with which the firm deals during the course of its business. It constitutes those outside forces that are not under the control of the firm but have a powerful impact on the firm’s functioning. The general environment within the economy that influences the working, performance, decision making and strategy of all business groups at the same time is known as Macro Environment. The firm itself is an aggregate of a number of elements like owners like shareholders or investors, employees and the board of directors.Macro refers to the big picture, while micro focuses on smaller, more specific details. Macroeconomics focuses on issues that affect nations and the world economy. Microeconomics focuses on issues that affect individuals and companies. Whereas, macroeconomics is the study of a national economy as a whole. They are considered as the king of business. One of the main differences between macro and micro is their scope. Microeconomics is the study of economics at an individual, group, or company level. ![]()
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