The Theory Of Macroeconomics And Microeconomics - 1634 Words

Is planned obsolescence a â€Å"natural† phenomenon or simply an ambiguous method of supporting the economy? It is both. Why? How? To clearly elucidate this intriguing topic-to some- this presentation will be divided into six sections-the foundation of our economy, the basis of planned obsolescence, the system in all our products are manufactures and marketed, how this technique is â€Å"pulled-off† (in an epithetical fashion) by corporations and how primordial edicts of macroeconomics and microeconomics should be conformed to. Firstly, what is economics? In the words of highly-acclaimed American economists, Steven D. Levitt Stephen J. Dubner-â€Å"Economics is, at root, the study of incentives, how people get what they want or need, especially when other people want of need the same thing†. Macroeconomics is a division of economics subsidizing on the structure and abnascentia of economics, the behavior of consumers and the scrutiny of interactions (decisions) b etween corporations and individual clients as a part of a greater economy; as a whole. Microeconomics –as its Greek prefix, mikro meaning small- is the opposite of macroeconomics entirely; it is founded on the study of the behavior of individuals and small organizations in a systematic view of a collapsed economy with limited resources (input and output in a circular manner). To get a cosmopolitan view on our economy this speech will be greatly led on the â€Å"laws† of macroeconomics. Economy is the state of a country or region inShow MoreRelatedPolicy Review And The Lucas Criticisms Essay919 Words   |  4 Pagesin the change of the economy. However, in the monetary economy cycle theories, the expected monetary supply changes will not influence the total economy; the unexpected money supply changes will impact the total economic in short term. In the long term, it merely impacts the changes of general price levels, instead of on the changes of total economy. Therefo re, in the issues of controlling inflation, monetary economy cycle theory believes that the governments do not need to have to spend too manyRead MoreEconomics As An Area Of Study And Research1372 Words   |  6 Pagesdetermine how economies work (Marshall 2004). Understanding of economics calls for the division of the subject into two main branches. The areas are microeconomics and macroeconomics. Microeconomics is the basic form of economics in the society. It examines the roles of households, individual consumers, and markets in a given region. On the other hand, macroeconomics examines the factors that affect the larger components of the economy. It focuses on issues such as national investment, consumption, productionRead MoreA Report On The Supermarket Wars1211 Words   |  5 Pages The main purpose of this report is to make references to significant microeconomic models, in order to explain the supply, Demand, Market equilibrium, price discrimination, and Opportunity rate as well as making references to important macroeconomic aims which can be described with some examples such as growth, Inflation, Unemployment, GDP, exchange rates and many more , this two business economic topics areRead MoreExamples of Macro and Micro Economics840 Words   |  4 Pagessignificant branches; one of it being the microeconomics and the other one being the macroeconomics. Microeconomics can be easily understood through the term micro itself which means small, microeconomics focuses on small level that is to say it includes areas of individual decision making and its core components include production, exchange, distribution and consumption. Macroeconomics on the other hand focuses on a much aggregate level. Unlike microeconomics it influences those areas in its studyRead MoreFinance Is Based On Economics841 Words   |  4 Pagesneeds by humans. Macroeconomics started with John Maynard Keynes, an English economist, who published a book entitled General Theory of Employment, Interest and Money in 1936. Keynes offered a clarification for the fallout from the Great Depression, when goods remained unsold and workers unemployed, a feat that left c lassical economists stumped. Keynes theory explained why markets may not clear. This theory evolved throughout the 20th century, diverting into several macroeconomic schools of thoughtRead MoreMicroeconomics1441 Words   |  6 PagesQuestion 1) With examples give 5 reasons why the study of microeconomics is important. Microeconomics is a field of economic study that focuses on how an individual s behaviour and decisions affect the supply and demand for goods and services. For the purpose of microeconomics, the actions of individuals, households and businesses are crucial, unlike the study of macroeconomics, which focuses on national and international economic trends. Despite the differences between the two fields, howeverRead MoreThe Growth Of Retail And Hospitality Industries Essay926 Words   |  4 PagesWithin the social sciences of production and consumption the concepts of macroeconomics and microeconomics help to analyse the broadness of our vast economic system. This research essay will critically review an article published in The Australian â€Å"Retail spending rose 0.3pc in January, less than expected†. The author of the article, Dow Jones compares the forecasted growth of retail and hospitality industries. Aspects of consumer sovereignty and market demand explain trends in the post-holiday periodRead MoreThe Economic Schools Of Thought1445 Words   |  6 PagesFreshwater Economics Macroeconomic schools of thought would be prudent to accept certain aspects of the views of other schools of thought to better understand the scope of economic efficiency through the use of various models aimed at understanding the implications that all actions affect outcome. Like other economic schools of thought, Freshwater developed from previous schools of thought as new macroeconomic ideas were discussed and disputed. Neoclassical synthesis was a postwar movementRead MoreMicroeconomics And Macroeconomics Of Microeconomics1565 Words   |  7 Pagesis the broader term, however within this, there are additional fields such as microeconomics and macroeconomics. The difference between microeconomics and macroeconomics is analogous to the human body and the individual cell that makes up the human body. Macroeconomics is involved with the wide lens aspect of society. In other words, macroeconomics focuses on the broader large scale economy of a society. Macroeconomics focuses on larger economic issues such as national employment rates, gross domesticRead MoreHow Business Is An Expansion Or Recession By Their Look And Attitudes At Dinner Essay1043 Words   |  5 PagesWhen I was young, my parents started their business supplying steel to construction firms. They often talked about their business when we had dinner. Since their business is closely related to the overall macroeconomic situation, I g ot a sense about business cycle at an early age. I could judge whether it is an expansion or recession by their looks and attitudes at dinner. Also, I got a feeling about how the business could function in the environment of competition before I entered high school. This