Define microeconomics and macroeconomics. Economy: It is defined as the state of a given country on how it handles the allocation of resources to produce and distribute services and commodities used to satisfy human wants and needs. Proper utilization of the available resources increas...
Define microeconomics and macroeconomics. What is a comprehensive definition of economics? In economics what is the meaning of macro-economics? What is the nature of managerial economics? Managerial economics is economics that is applied in decision making. Explain what this means. ...
Microeconomics deals with economic decisions made at a low, or micro, level. From this standpoint, microeconomics is sometimes considered the starting point for the study of macroeconomics, as the former takes a more bottom-up approach to analyze and understand the economy. The prefixmicro-meanssma...
and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance. I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic ana...
Define microeconomics and macroeconomics. Define the term 'economy'. What is the meaning of capital as used in economics? Give an example. In economics, capital refers to what? Define the term "indifference curve" in economics. How can we define "production" in economics?
How does it affect macroeconomics and microeconomics? What effect will higher than average economic growth have on inflation? What does inflation mean? What is inflation? How do economists measure inflation? What is the cost associated with inflation in economics? How does inflation affect the ...
Is the concept of the price elasticity of demand for a good related to microeconomics or macroeconomics? Explain. What is meant by price elasticity of demand. List and explain three factors of price elasticity of demand. Define theoretically price elasticity of de...
Define economics and differentiate the scope of analysis between microeconomics and macroeconomics? In economics what is the meaning of macro-economics? Differentiate between a mixed economy and a market economy. Define "economic theory". How might a theory of the economy differ from a ...