The flows of factors of production that go from households through factor markets to firms and of the goods and services that go from firms through goods markets to households.
Microeconomics is literally "small" economics, which typically concentrates on the interrelatedness of single markets and firms. Macroeconomics is "big" economics and concentrates on the economy as a whole, international trade, etc.
business markets and consumer markets
US firms are at the forefront of technological advances.
You can think of microeconomics as a study of the "small" economy. So you're looking supply and demand for individual firms or individual markets for goods and services. Macro is "big" economics, or the study of whole markets. For example, micro would look at consumer choice and the market for specific goods, while macro would ask how fiscal policy would affect exchange rates.
To do with individual consumers, markets and firms.
Macro economics means big firms and is the study of the economy at large.micro means small firms and business markets.
The flows of factors of production that go from households through factor markets to firms and of the goods and services that go from firms through goods markets to households.
Microeconomics is literally "small" economics, which typically concentrates on the interrelatedness of single markets and firms. Macroeconomics is "big" economics and concentrates on the economy as a whole, international trade, etc.
business markets and consumer markets
US firms are at the forefront of technological advances.
You can think of microeconomics as a study of the "small" economy. So you're looking supply and demand for individual firms or individual markets for goods and services. Macro is "big" economics, or the study of whole markets. For example, micro would look at consumer choice and the market for specific goods, while macro would ask how fiscal policy would affect exchange rates.
Factor Markets, Households, Profuct markets, firms
why do small firms continue to exist despite competition from large firms
Microeconomics is the study of how households and firms make decisions and how they interact in markets. Microeconomics explores the patterns of supply and demand that determine how prices and outputs are established in individual markets. www.textbookvideos.com Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.
Small firms exist because they help strengthen the economy. Smaller firms create jobs and pay taxes that help support the community.
The components of macro economics are firms, households, financial institutions, government, exporters and importers.