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What are the differences between economy and economics?
Economics, macro and micro, deals with modeling and understanding how the creation and use of resources function. Whether the econ is macro or micro simply depends on the scope of the modeling and study. While micro-economics, with the narrow personal scope, will deal in part with money and, therefore, be a financial issue, micro-economics will also address how effectively and efficiently personal resources like car, house, clothes, food, etc. are used. So the short answer is...finance deals with money only; economics deals with money and all the other resources.
What is macroeconomic and microeconomics?
The study of economics is divided by the modern economists into two parts viz. Micro economics and Macro economics. Micro economics and Macro economics, both the terms were used in 1933 by Prof. Ragnar Frisch from Oslo University of Norway. The word micro has been derived from the Greek word `Mikros' i.e. small and the word macro has been derived from Greek word `Makros' i.e. large.According to Prof. K. E. Boulding, "Micro Economics is the study of particular firm, particular household, individual prices, wages, incomes, individual industries and particular commodities."Microeconomics is a branch of economics that studies the behaviour of individual households and firms in making decisions on the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.On the contrary, macroeconomics involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment." Macroeconomics also deals with the effects of national economic policies such as changing taxation levels.According to Prof. Boulding, "Macro Economics deals not with individual quantities as such but with aggregates of the quantities, not with individual incomes but with the national income, not with the individual prices but with the price level, not with the individual output but with the national output."The study of economics is divided by the modern economists into two parts viz. Micro economics and Macro economics. Micro economics and Macro economics, both the terms were used in 1933 by Prof. Ragnar Frisch from Oslo University of Norway. The word micro has been derived from the Greek word `Mikros' i.e. small and the word macro has been derived from Greek word `Makros' i.e. large.According to Prof. K. E. Boulding, "Micro Economics is the study of particular firm, particular household, individual prices, wages, incomes, individual industries and particular commodities."Microeconomics is a branch of economics that studies the behaviour of individual households and firms in making decisions on the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.On the contrary, macroeconomics involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment." Macroeconomics also deals with the effects of national economic policies such as changing taxation levels.According to Prof. Boulding, "Macro Economics deals not with individual quantities as such but with aggregates of the quantities, not with individual incomes but with the national income, not with the individual prices but with the price level, not with the individual output but with the national output."
What are the distinction between micro and macro economics?
for micro we are studying the economic systems in general but as for macro we are now `looking at the world 's economy as a whole
What is output in economics?
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
What is a dependent relationship?
a dependent relationship is when one or both the people involved in the relationship depend on each other. they can not do anything without the other person at least influencing them. they do everything the other person would do. The person who is dependant on the relationship would in some cases break down if they did not have the other person.
Define micro and macro nutrients?
Macro nutrients = six nutrients are required by the plants in large quantities and hence these are called macro nutrients. Micro nutrients = iron , manganese , zinc , copper , molybdenum , boron and chlorine are the micro nutrients which used in small quantities.
Are proteins macro or micro nutrient?
Yes. Proteins are needed in large amounts by the body, as protiens are used primarily to build and maintain body tissues, which you have a lot of.
What is the difference between micro operation and macro operation?
Micro operation is the level 2 operation, it is excute directly from hardware. Mainly used in provide macro instruction. Macro operation is the level more than 2 (3,4) operation, depend on your CPU structure. Sometime, we call its assembly operation. It is excute by micro operation.
What is a macro theory?
A macro theory is a broad theory that aims to explain large-scale social, political, or economic phenomena at a societal level. It focuses on understanding how institutions, structures, and systems shape society as a whole, rather than individual behaviors or interactions. Examples of macro theories include functionalism, conflict theory, and symbolic interactionism.
Explain the micro and macro theories used by criminologists?
The larger scale theories generally fall into the category called Macro theories and they are generally considered to be concerned with social structures and the effects of those structures on the human behavior while Micro theories are considered to be theories and are concerned with trying to explain the individual level causes of crime and delinquency.
Why is fruit used in most compost piles?
Compost is used in most compost piles because it is edible by beneficial macro- and micro-organisms and because it rots easily.
Why are child soilders used?
There are child soilders because they are eaiser to brainwash then adults
In what way were Herbert Spencer and Emile Durkheim alike their thinking and understanding of society?
In what way were herbert Spencer and emile durkheim alike in their thinking and understanding of society?
What does the preix macro mean?
The prefix macro comes from the Greek and means long or large. It is used in descriptions to distinguish from small (micro) or omni (all encompassing). In computer usage, it means a shorthand description for a particular process used frequently, but not part of the formal language. You'll get further information by checking with an etymological dictionary.
How do you use macro molecule in a sentence?
macro molecule can be best used as such. macro molecule is very useful in our daily lives.
How you use macro molecule in a sentence?
macro molecule can be best used as such. macro molecule is very useful in our daily lives.
What is the process in compost piles?
Decomposition is the name of the process in compost piles. Macro- and micro-organisms manage to consume and excrete carbon- and nitrogen-rich recyclables in tandem with decomposition-friendly levels of air, heat and moisture. The result will be the availability of macro- and micro-nutrients in soluble forms that can be taken up by such soil food web members as plant roots and used by soils to improve aeration, drainage, fertility, infiltration and percolation.
