The micro-macro dilemma relates to a variety of circumstances and situations and is essential for numerous decisions daily that people make. This is particularly true for many of the business decisions that organizations make in concerns to marketing. From the perspective of marketing‚ high-powered engine in cars is a pleasurable and worthwhile option or many consumers‚ especially consumers who enjoy driving high-powered vehicles or participate in recreational activities that require the high-powered
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Micro economics is a branch of economics which studies individual firms and consumers. The basis of micro economics is supply and demand; how does the market react to changes in supply and demand and inevitably how does it affect price. Microeconomic decisions by both firms and individuals are motivated by cost and benefit considerations. Costs can be either be in terms of financial costs such as average fixed costs and total variable costs or they can be in terms of opportunity costs‚ which consider
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Pre-Session Rationale My aim is for my learners to use non traditional methods to challenge preconceptions of drawing. This will be achieved by creating a paper cut-out that demonstrates drawing through new techniques‚ tools and processes to depict works of art from observation. The activity will create a fun environment‚ which will subsequently aid learning. This session will help me visually assess learner’s ability to work with equipment and to follow simple instructions. The outcome of this
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banking and related services.” Microfinance is not just about giving micro credit to the poor rather it is an economic development tool whose objective is to assist poor to work their way out of poverty. It covers a wide range of services like credit‚ savings‚ insurance‚ remittance and also non-financial services like training‚ counseling etc. FEATURES: * Borrowers are from the low income group * Loans are of small amount – micro loans * Short duration loans * Loans are offered without collaterals
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Micro Environment Notes • The forces within an organisation’s industry that affect its ability to serve its customers and clients – target markets‚ partners and competitors. (Marketing 2nd Edition by Elliott‚ Rundle-Thiele Waller) - Customers - Clients - Partners - Competitors • All factors in the micro environment affect the marketing. Marketing managers‚ during the marketing process‚ must account for all factors in relation to marketing‚ specifically within the micro environment. Customers
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Macro environment of apple company. Macro environment is a far environment which comprise of several forces that raise strategic issue to Apple. These forces are social force‚ economic force‚ politic force‚ and technology force which well known as PEST (figure 3). Figure 3 Macro Environment Technology forces The first force that influences computer industry structure is rapid and sustained technical progress. Each year‚ integrated circuits and other electronic components become better
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Discuss the rationale behind the WS and PS curves (12 marks) Keynesian macroeconomics assumes that markets are imperfect and this as the result of lack of competition. The implication of imperfect market is that agents are no longer price takers as in perfect markets‚ but become price setters. In product markets the firms are price setters considering the elasticity of demand which is partly dependant on competition. In the labour market‚ workers are the wage setters. Through collective bargaining
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Sociological theories can be divided into two categories‚ macro-sociological and micro-sociological theories‚ otherwise known as structural and action theories‚ respectively. As sociological theories‚ they both aim to explain the society we live in‚ but differ in where they choose to focus their explanation‚ with macro-sociological theories observing society as shaping the individuals that live in it‚ and micro-sociological theories observing individuals as shaping the society they live in. Structural
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1. Micro Environmental The microenvironment consists of five components. The first is the organization’s internal environment—its several departments and management levels—as it affects marketing management’s decision making. The second component includes the marketing channel firms that cooperate to create value: the suppliers and marketing intermediaries (middlemen‚ physical distribution firms‚ marketing-service agencies‚ financial intermediaries). The third component consists of the five types
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What is the difference between micro and macroeconomics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. Micro and macroeconomics describe the same concept of economics at different levels hence they are intertwined ideas. Microeconomics is concerned with individuals in the economy like households‚ workers and business (Taylor & Greenlaw‚ 2016). It concentrates on how business establishes prices‚ how it is affected by taxes and it explains the concept of demand
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