Microeconomics ( From The Greek Prefix Meaning, Large, And Economics

Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle. Text Required: Macroeconomics, Roger A. Arnold, 7th Edition, 2005 Recommended: Macroeconomics Study Guide, Roger A. Arnold, 7th

The study and application of macroeconomics influences the well-being of a nation by achieving high rates of material production and by keeping track of how much of something is being consumed. The United States is one of the wealthiest countries in the globe, making the government powerful. Government intervention in the Untied States is an important factor that keeps the economy running. Enough power to control the business cycle keeps money circulating the nation. The business cycle includes economic downturns, classified as recessions, expansions, business-cycle peaks and troughs. A good government is essential for the economy to run smoothly. There are three main macroeconomic variables in the nation that the government focuses on, Gross Domestic Product (GDP), unemployment rate, and inflation rate.

Microeconomics deals with the individual parts in the economy and how they relate to each other. Macroeconomics deals with the totals of these parts in our economy

Anderson, K. (2013). The Difference Between Macro and Microeconomics | Mint.com. Retrieved October 13, 2013, from https://www.mint.com/the-difference-between-macro-and-microeconomics/

Microeconomics focuses on supply and demand. A company would look at ways to increase production so that the company could decrease their prices compared to competitors. This would adjust the equilibrium price of products by increasing the quantity that is available. This allows the company the capability of passing price savings to consumers. Macroeconomics is used as the economy changes such as with inflation. Inflation would cause a company to have a boost of cost in materials from producing their product. This creates a change in quantity to be provided as supply has to be adjusted to meet the decrease of demand from the effects on equilibrium price.

Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. Economics can even be used a few different ways. They are the study of scarcity, the study of how people use resources, or the study of decision-making. One of the central tenets of economics is that people want certain things and will change their behavior to get those things according to American Economic Association. The economic study ranges from the very small to the very large. Much of economics involves the use of data gathered by governments, businesses, or in the laboratory to test the hypotheses about whether a certain program, event, or incentive will have the expected effect. Our nation is affected by economics in the way that you work, spend money, eat, simply just how you live on a regular

11.Macroeconomics is best described as the study of A) very large issues.B) the choices made by individual households, firms, and governments.C) the nation's economy as a whole.D) the relationship between inflation and wage inequality.Points Earned: 0.4/0.4Correct Answer(s): C

Macroeconomics is the field of economics that studies the behavior of the economy as a whole not certain parts. Gross National Product (GDP) the economy’s total output; how it is affected by changes in unemployment, national income, rate of growth, and price levels. Macroeconomics encompasses an increase or a decrease in net exports would affect a nation 's capital account. Government’s role in macroeconomics is to keep the economy in equilibrium; taxes and government spending augment the balance to achieve equilibrium in the economy

Economics is often called the "science of decision making." The decisions that economists analyze range from personal decisions such as how big a pizza to order or whether to buy or lease a new car to the decisions the federal government makes about things like the size of our military. Economists use information about these, and other decisions, to develop indicators that can be used to determine the health of our economy. Just as a physician relies on indicators such as temperature, blood pressure and heart rate to determine the health of a patient, economists use indicators like gross domestic product growth, the unemployment rate and the rate of inflation to predict our

Q1. How does the government use the fiscal policy and monetary policy to stabilize the economy?

Many businesses consist with constant decision makings. It can be a group decision making or such as an individual decision making. Microeconomics is the part of economics concerned with single factors and the effects of individual decisions. Business take use of microeconomics data to make multiple of different choices, which could determine the success or failure of their business. Microeconomics is the reliability and currency of the information a business uses, therefore, is usually the most important strategy that the company or enterprise relies on when things get difficult or just wanting to grow their business taking a risk.

Macroeconomics analyzes the overall economy and the issues affecting it such a growth, inflation and unemployment, where microeconomics only studies how those issues affect individual markets and how they make decisions about allocating scarce resources.

2. Microeconomics – the branch of economics, which deals with the individual decisions of units of the economy – firms and households, and how their choice determine relative prices of goods and factors or production.

Microeconomics involves supply and demand in an individual market, individual consumer behavior, and externalities arising from production and consumption; while, macroeconomics involves monetary/fiscal policy, reason for inflation and unemployment, and international trade/ globalization.

The Economy is the backbone to society. There are many factors that operate in, and govern our society’s economical structure. Factors such as scarcity and choice, opportunity cost, marginal analysis, microeconomics, macroeconomics, factors of production, production possibilities, law of increasing opportunity cost, economic systems, circular flow model, money, and economic costs and profits all contribute to what is known as the economy. These properties as well as a few others, work together to influence the economy. Microeconomics and Macroeconomics are two major components. Both of these are broken down into several different components that dictate societal norms and views.