Economics - Jazzer Estrellanes Economics BABA-2A 1.) Read...

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Jazzer Estrellanes BABA-2A Economics 1.) Read any material and differentiate macroeconomics from microeconomics. Basically, as the word ‘micro’ implies, Microeconomics is a branch of economics which studies the functionality and behavior of individual entities and smaller business sectors, which includes business firms and households. Microeconomics also focuses on the market’s supply and demand factors that determine the economy’s price levels. Typically, it applies to markets where good and services are being supplied and sold. Contrary to Microeconomics, Macroeconomics is concerned with the performance, structure, and behavior of the economy as a whole, in which it includes the national and global economy. This branch of economics also looks up to different economy-wide phenomena such as the GDP (Gross Domestic Product), foreign trades, unemployment rates, and price indices. It also takes into consideration the aggregate supply and demand of all goods and services. In general, microeconomics focuses on the various factors of supply and demand, and the influence
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This note was uploaded on 02/20/2012 for the course ACCOUNTING 102 taught by Professor Calamba during the Summer '11 term at Universität St. Gallen (HSG).

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Economics - Jazzer Estrellanes Economics BABA-2A 1.) Read...

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