Definition of ’Macroeconomics’ The term Macro has been taken from the Latin word Macros which means big. The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment‚ national income‚ rate of growth‚ gross domestic product‚ inflation and price levels. Macroeconomics Concerns Production Prices Income Employment National Production/Output Total Industrial Output Gross Domestic Product Growth of Output
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What Is Macro Environment? The major external and uncontrollable factors that influence an organization’s decision making‚ and affect its performance strategies. These factor includes the economic factors; demographics; legal; political‚ and social conditions; technological changes; and natural forces. Macro environment factors are beyond the control of an organization. This is because those factors are positioned outside the organizational system. Those forces are the prime factors in corporate
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Unit-1 Q1. Define micro and macro economics‚ Distinguish between them‚ and explain the scope‚ importance and its limitations Ans. modern economy analysis has been divided into two major branches that is micro and macro economics. Micro economics means the economics system which deals individual economics unit on the other hand macro economics means the economics unit which deals aggregate as a whole that is national income‚ general employment‚ and total out –put‚ general price level etc. These two
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Inequalities of social class‚ race‚ and ethnicity and gender effects the life chances on the macro and micro level. Inequalities that are inherited to the American way of life have caused enormous pain and suffering along with the social class‚ race and gender. People have been abused and held back from living and achieving life potential. It is sadly ironic that a country that was founded on liberty and freedom and would be so mired in the sludge of racism and bigotry. This sad condition
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https://docs.google.com/document/d/1mB_7Hr3jfMiTmld3gn8SXrgl7PM5iHRonYr8mFQ956I/edit AP Macro Module 1 AP Macroeconomics 1.03 1. a) If I go to the beach‚ the opportunity cost is that I will not be prepared for the exam; likewise‚ if I study for the exam‚ the opportunity cost is that I will not be having fun at the beach. b) If I get a job after high school‚ the opportunity cost is that I will miss out on a college education; likewise‚ if I go to college‚ the opportunity
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Braden Anderson October 15‚ 2008 Macro-Evolution The theory of macro-evolution is one of the most debated topics in modern day society. Macro-evolution is the changing of one species to another‚ and the Big Bang Theory is tied in with it. Theories such as man evolves from apes and the universe coming from a large explosion‚ called the Big Bang‚ have been debated against creationists who believe in creation from a supernatural being. Evolution‚ I believe‚ is false because it lacks
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ECON 352x – 26363 – Macroeconomics for Business Syllabus – Spring 2013 – MW – 6:00-7:50 pm Professor: F. Ibrahimi Nazarian Office: Bridge Hall 204C Office Phone: (213) 740-3934 Office Hours: Monday &Wednesday 3:00-4:00 pm‚ or by appointment E-mail: ibrahimi@marshall.usc.edu COURSE DESCRIPTION Making sound business decisions requires knowing the economic environment in which firms operate. It requires an understanding of key economic indicators‚ the relationship among economic
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MANAGERIAL DECISION MAKING-I (ECONOMIC ANALYSIS SIMPLIFIED FOR YOU) COURSE DURATION: 20 HOURS PER SEMESTER COURSE CREDITS: 02 1. ESSENCE OF ECONOMICS Problems of an economy; Solutions of these problems; Alternative system to tackle the problems; Economics‚ micro – economics & macro – economics; Basis building blocks of microeconomics – rationality‚ marginalism‚ opportunity cost‚ general & partial equilibrium. 2. FALLACIES AND PITFALLS Economics is about decision making‚ fallacies in decision
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Meaning and Definition: According to Professor J.M Culbertson‚ “macroeconomic theory is a theory of income‚ employment‚ prices and money”. According to P.A. Samuelson‚ “macroeconomics is a study of the behavior of the economy as a whole. It examines the overall level of a nations output‚ employment‚ prices and foreign trade”. Nature‚ Scope and importance of Macroeconomics As a method of economic analysis macroeconomics is of much theoretical and practical importance. 1. To understand the
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Characteristics of business environment • Components of business environment • The micro and macro environment • Competitive environment • Porter’s five forces model–competitive analysis Learning Objectives The present chapter aims at: • Definitions and objective of business • Examine environment analysis‚ characteristics components of the organisation. Let us know the microenvironment and macro environment • Understand the competitive environment • Describe the Porter’s five-force model
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