Macros are constants, or pieces of code, that are being taken care of by the compiler before the rest of the code to replace the code where the macro is used with the content of the macro.
There are three different types of macros: stand alone macros, local macros, and macro libraries.
Macros are typically constant values that are only changed by developers. They are used so that developers don't have to hardcode these kind of values in the X++ code, but rather refer to the macro.