Abstract
macro. Used by economists, with micro, to distinguish between the sectors of the economy being considered. Macroeconomics concerns itself with the economy as a whole at the national, regional or international level. Microeconomics in contrast is concerned with individual sectors or decision units or markets within the whole economy. The economics of the oil and gas industry involve micro issues such as crude oil pricing, integration, etc. Macro issues are also involved because of implications for output and balance of payments, etc.
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© 1988 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Stevens, P. (1988). M. In: Stevens, P. (eds) Oil and Gas Dictionary. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07579-9_13
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DOI: https://doi.org/10.1007/978-1-349-07579-9_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-07581-2
Online ISBN: 978-1-349-07579-9
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