Although there are other branches of economic study‚ micro and macroeconomics are the most well-known. Over the years‚ both have become an increasingly common part of high school and college-level curriculums. Despite their popularity‚ however‚ the principles of these disciplines are frequently misunderstood or confused. While they share some of the same concepts and are interrelated in important ways‚ there is a fundamental difference between micro and macroeconomics. The simplest way to distinguish
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aggregate economic behavior is studied. Emphasis on topic such as total production‚ income and expenditure‚ economic growth‚ aggregate unemployment‚ inflation etc is studied. • The problem of economizing is essentially one of deciding how to make the best use of limited resources to satisfy unlimited want • Opportunity cost is best defined as the value of the best alternative sacrificed when a choice is made • An unskilled labourer would be viewed by economists as a factor of production
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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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environmental factors 1.2.1 Micro Environmental Factors Micro Environmental Factors is also known as internal environmental factors. They include factors which are within or close to the company that have a direct impact on the organisation strategy as follow: i. Top management ii. Other functions‚ such as finance and accounting‚ Research and Development‚ manufacturing and purchasing iii. Suppliers iv. Marketing intermediaries v. Customers vi. Competitors vii. Public 1.2.2 Macro Environmental Factors These
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individual economic units of an economy whereas macroeconomics is the study of aggregates of an economy as a whole. For example‚ when we study of an individual sugar mill manufacturing sugar‚ our study is micro analysis but if we study the entire sugar manufacturing sector of the economy‚ our study is macro analysis. Also please note if we study the problem of production of a firm‚ our analysis is micro study but if we study the problems of production of the whole economy‚ our analysis is macro study
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MACROECONOMIC FACTORS INFLUENCING THE VIDEO GAME CONSOLE MARKET Demographic Factors: Age is the main demographic factor affecting the market for video game consoles although common misconceptions are that the market is mainly comprised of teenagers. Recent Studies shows that the largest market sector of video game console purchases are teenagers or young adults. ESA demographic data shows that America¶s average game player¶s age is 34 and the average age of game purchasers is 40 (see article x) Generational
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DECLARATION We hereby declare that the project work entitled “BSE30 and Macro Economic Factors” Submitted to the‚ Lakshmibai College‚ Delhi University is a record of an original work done by us under the guidance of Ms. Neha‚ Faculty Member‚ Delhi University‚ and this project work has not performed the basis for the award of any Degree or diploma /associate ship/ fellowship and similar project if any. ACKNOWLEDGEMENT We would like to express our sincere gratitude to our Teacher Ms. Neha for
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MICRO AND MACRO MARKETING ENVIRONMENT Introduction Micro marketing Refers to the internal controllable factors or forces which affects the ability of a company to serve its customers. e.g. the organization‚ the market‚ the suppliers‚ market intermediaries and the marketing mix. The micro marketing environment that surrounds organisations can be complex by nature‚ however the company has an element of control over how it operates within this environment. Macro marketing Refers to the external
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Macro And Micro Economics Micro Economics:- Microeconomics is a branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular‚ microeconomics focuses on patterns of supply and demand and the determination of price and output in individual
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Micro Macro A company ’s marketing environment is made up of the ACTORS AND FORCES outside marketing that affect marketing management ’s ability to build and maintain successful RELATIONSHIPS with target customers. The marketing environment is made up of the micro environment and the macro environment. The micro environment consists of the ACTORS CLOSE to the company that affect its ability to serve its customers - the company‚ suppliers‚ marketing intermediaries‚ customer markets‚ competitors
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