Purchase Solution

Explanation of micro vs macroeconomics

Not what you're looking for?

Ask Custom Question

You are asked to address a professional meeting and explain microeconomics, macroeconomics and their differences. Please answer the following questions:

What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.

Would you give an example of a microeconomic decision you've made at work or home? What factors contributed to making that decision?

Would you give an example of how a macroeconomic phenomenon has impacted a personal or business decision of yours? In the end, what was the result of your decision?

Write out the text of your speech.

Purchase this Solution
Solution Summary

This solution involves the explanation of microeconomics vs macroeconomics and the decisions involved for each. Examples of each are also provided.

Solution Preview

You are asked to address a professional meeting and explain microeconomics, macroeconomics and their differences. Please answer the following questions:

What are the main differences between microeconomics and macroeconomics?

"The field of economics is broken down into two distinct areas of study: microeconomics and macroeconomics. Microeconomics looks at the smaller picture and focuses more on basic theories of supply and demand and how individual businesses decide how much of something to produce and how much to charge for it. People who have any desire to start their own business or who want to learn the rationale behind the pricing of particular products and services would be more interested in this ...

Solution provided by:
Jackie K, MBA
Education
  • Masters Degree, Strayer University
  • Bachelors Degree, Armstrong Atlantic State University
Recent Feedback
  • "Thank you so much, I had a hard time trying to decide between team Leadership, and tranformational"
  • "Outstanding Response! Thank you."
  • "thank you so much for your help"
  • "I like your answers, very straight to the point."
  • "Thank you very helpful. If there are any references could you direct me to them?"
Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Income Streams

In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.

Motivation

This tests some key elements of major motivation theories.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

View More Free Quizzes
Related BrainMass Solutions

  • Microeconomics vs Macroeconomics

    143598 Microeconomics vs Macroeconomics Microeconomics is "the study of the operations of the components of a national economy, such as individual firms, households, and consumers."

  • Micro/Macro Economics

    263271 Differences Between Micro and Macroeconomics How would you discuss the difference between Micro and Macroeconomics? "Macro- and microeconomics, and their wide array of underlying concepts, have been the subject of a great deal of writings.

  • explain microeconomics, macroeconomics and their differences

    475549 Microeconomics vs Macroeconomics You are asked to address a professional meeting and explain microeconomics, macroeconomics and their differences.

  • Description of macroeconomics.

    Economists use macro and micro to apply principles about economic behavior: Macro - is the study of aggregate economic behavior of the economy as a whole.

  • Circular flow, Production Possibilities, and other Concepts

    An explanation of the difference between micro and macro economics, indicating why the division is necessary. Then I have to turn this into a presentation (power point) as a training thing for pretend employees.

  • Micro and Macro economics

    In micro economics the economy is divided into comparatively number of small parts and study is made of how each small part functioned.

  • Macroeconomics Research

    (ii) Basic assumptions of Micro and Macro economics: Microeconomics assumes all the macro variables as constant and macroeconomics assumes all the micro variables as constant (Dwivedi, 2010).

  • Question about Microeconomics and Macroeconomics

    Overall, macroeconomics is a vast field that concentrates on two areas, economic growth and changes in the national income." Hence Micro focuses more on demand and supply factors whereas Macro focuses on economic growth and inflation.

  • Economics

    explanation about the, the role of micro and macro economics in decision making, we would now answer to one of the questions asked.// The financial system of the United States is the biggest national economy in the world in both nominal value and

View More Related Solutions