Red cells carry oxygen entirely via the iron in hemoglobin. A shortage of any raw material (iron, B12, folate), red cells destroyed too fast (hemolysis), or suppressed production (chronic disease, kidney, marrow) all present as anemia. MCV is a great signpost because
cells take the shape of what's missing — small when iron-deficient, large when B12/folate-deficient.
Microcytic MCV<80
Iron deficiency, thalassemia, chronic inflammation
Normocytic 80–100
Acute blood loss, chronic/renal disease, hemolysis
Macrocytic MCV>100
B12/folate deficiency, hypothyroidism, alcohol
MCV = mean corpuscular volume (fL). This is a triage map, not an endpoint — each branch still needs ferritin, B12, reticulocyte count to localize further.