Microeconomics and Macroeconomics Essay Example for Free

Microeconomics and Macroeconomics Essay Microeconomics is a branch of economics which deals with the study of resource allocation decisions within the confines of the sub-segments of an economy such as households and business firms (Arnold, 2010). Central to this study is an examination of how prices of goods and services in a market influence their demand and supply. Macroeconomics on the other hand deals with the study of the nature of the economy as a whole; national, regional or a global economy (Agarwal, 2007). It deals with such issues such as GDP (Gross Domestic Product) and the influences of a larger economy such as employment and inflation. The main difference is thus the scope of study since it can be argued that microeconomics is a subset of macroeconomics. Another difference is that microeconomics focuses on consumers and businesses while macroeconomics deals with industries and nations (Arnold, 2007). Additionally, microeconomics deals with the forces of demand and supply in a market while macroeconomics studies the effect of such issues as interest rates, exchange rates and employment output on a national scale. Generally, microeconomic studies take a bottom-up approach while the macroeconomic studies take a top-down approach. An example of a microeconomic phenomenon would be on pricing policies. A company may want to know what price to charge for a product they are introducing to the market. This is a microeconomic decision since to answer such a question, knowledge of the nature of market and the economic forces prevailing in it is important. One would need to study in detail the demand and supply of the commodity, utility to the consumer, competition from other suppliers and other microeconomic factors before coming up with a pricing decision. The increase in oil prices in an economy is an example of a macroeconomic phenomenon. Such price changes may be influenced by various factors which can only be explained at a macroeconomic level. The reasons could be inflation in an economy, war or political instability in a particular region of the world. A microeconomic decision made at home would be a changeover to taking tea as opposed to coffee. This is informed by an increase in the prices of coffee with no change in the level of income. The factors influencing this decision are thus the price, cost, the income level and the availability of a substitute which is tea. This therefore leads to a consumer being cushioned against price increases which would otherwise affect his economic welfare. Macroeconomic factors prevailing upon an economy affect the operations of the sub-segments of the economy. This in turn would have an effect on the economic decisions made by consumers. The macroeconomic phenomenon of increase in oil prices in the world market coupled with inflation influenced a personal decision to buy a smaller car which is fuel economical as opposed to larger cylinder capacity vehicles which consume more fuel. Such larger capacity cars are a symbol of status but are fairly expensive to maintain in light of higher oil prices. This therefore has to be foregone in light of a benefit of reduction in cost. This has led to more savings by reducing on the budget on transportation. In summary, it can be said that microeconomics and macroeconomics are two major and indeed very important fields of study in economics. They are different but interrelated and interdependent since they have certain common objects of study. Both microeconomic and macroeconomic factors are key in decision making and thus the study of both is invaluable to understanding the operations of the economy. They provide necessary tools to the understanding the generation of revenue in the business operations of firms; and the economy as a whole. References Agarwal, V. (2007). Macroeconomics. New Delhi: McDraw-Hill. Arnold, R. (2010). Microeconomics. Mason, OH: Cengage Learning. Melvin, M., Boyes, W. (2008). Microeconomics. Mason, OH: Cengage Learning.

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Junk Food Should Be Banned At All Outlets In The UAE More than 72 McDonald's restaurants in the United Arab Emirates itself, and over 29 KFCs, only goes to reflect the popularity of junk food all over the world. Food that is prepared and served quickly is termed as 'fast food'. Such type of food suits perfectly into the fast paced life of a working individual. There is nothing more than ready-made food that a hard-working professional living in the city away from family could ask for. However, those who are against junk food highlight the adverse effect that it has on our health. Despite all the debate about the advantages and disadvantages of fast food, the industry is flourishing. Is junk food good or bad? The most evident advantage of junk food is that it saves time, taste good, cheap, and you can eat it in few minutes, there is no need to wash dishes because it's comes with plastics or paper food, also you can eat them anywhere and even standing. There is nothing better than getting a ready meal. No matter how much the chefs praise the benefits of fresh food, at the end of a hard-working day, when one returns home all tired and hungry, a pizza or a burger can be enough to stop his hunger. Besides the time an individual has to spend in the kitchen, cooking a meal also requires one to make a trip to the supermarket to buy the ingredients for the dish. Then there is the added effort and time consumed in washing and peeling the vegetables. All this makes eating fast food score more preferably over cooking a meal for a busy individual. Besides time, cost saving gives fast food an edge over the meal prepared in the kitchen. If one lives alone, then it is cheaper to buy a meal at the supermarket instead of cooking it at home. Also c... ...re their experiences. However, the junk food centers are quickly eating into this quality time. This is especially true about youngsters for whom a junk food center is a good place to hang out with friends. Finally, in my opinion junk food must be banned in all outlets in the UAE, because junk food is not good at all as I wrote above, it makes people rely on the ready male and their health will be weak and also will increase their risk of being obese as their body will use the desired number of calories. In addition the women will forget how to cook and this will affect their relationship with their husbands and their children, this is a reason of divorce for the negligence of the wife. References:- †¢ http://www.albayan.ae/economy/1265974470599-2010-03-02-1.224419 †¢ http://healthmeup.com/photogallery-healthy-living/reasons-why-fast-food-is-bad-for-health/16239

Natural Selection and North Carolina

Natural Selection Case Study QuestionsName _______________________________ Part I 1. Which state has more plain clover? North Carolina 2. Which state has more striped clover? Minnesota 3. Which state has a warmer average temperature? North Carolina 4. Which state has more days of freezing temperatures? North Carolina 5. Which state has drier conditions? Minnesota 6. Which state has more mollusks? North Carolina Part II 7. Why are the two gene products that are needed to produce active cyanide stored in different parts of the cell?They are stored in different cells because one is covered in stripes which the striped clover contains cyanide while the other is plain which the plain clover don’t contains cyanide 8. What are two ways that the cells can be disrupted causing the two components to come together and produce active cyanide? 9. What would be the advantage of producing cyanide? It allows perennial plants to survive which it grow again in the spring 10. Is there any disadv antage to producing cyanide? Explain.Yes, It can be damage caused by freezing and plant eaters can harm plant cells 11. What do these results tell you about the interaction between the snails and the clover? 12. It takes extra energy to produce the white stripe in the clover. Why would a clover expend the extra energy to produce a stripe rather than using the energy for growth? It would expand the extra energy because of Fitness. Part III 13. Which factors might contribute to / or inhibit the growth of the plain clover in MN?Bacteria that produce vaccines and hormones 14. Which factors might contribute to / or inhibit the growth of the striped clover in MN? Crops that resist herbicides and diseases or contain natural pesticides 15. Which factors might contribute to / or inhibit the growth of the plain clover in NC? Plants which can be eaten as vaccines 16. Which factors might contribute to / or inhibit the growth of the striped clover in NC? Growth hormones to produce lager faster o ffsprings 17.Which factor do you think caused the most selection pressure on the clover population in MN? 18. Which factor do you think caused the most selection pressure on the clover population in NC? Part IV 19. Which type of clover will be more abundant in the shallow depressions? Why? Plain because it covers the area behind the oceanfront dunes 20. Which type of clover will be more abundant in on the hill and why? Stripes because water drains quickly

Analyzing Le Corbusier s Principles And Their Legacy

Vers une architecture ANALYZING LE CORBUSIER’S PRINCIPLES AND THEIR LEGACY When one thinks of what modern architecture is, most people think of skyscrapers in Dubai or rotating buildings in China. But, in fact, this is not true. Modern Architecture began in the early 1900’s, but really came into mainstream architecture with the help of influential architect such as Le Corbusier. The specific book that solidified Corbusier’s principles, and essentially promoted his manifesto, was Vers Une Architecure (Towards a New Arhitecture). The book, which was published in 1923, had a lasting impact on the architectural profession. It serves as both as a manifesto for generations of future architects and as a subject of hate of those who are critical of it. The book itself is created of seven essays that Corbusier had previously published in his self-published magazine, L’Esprit Nouveau. The main theme of the essays are to be critical of then-contemporary trends of eclecticism and art deco architecture. Corbusier generally states that architecture should be influential and progressive in the way it changes how humans interact with buildings. In fact, Corbusier states that, â€Å"Une maison est une machine-a-habiter,† or rather, a house is a machine for living in. And in fact, architecture is the construction. When ingenuity is brought into play and masterfully implemented, art follows. This resonates with me as I agree that architecture needs to be both form and function, but functionShow MoreRelatedOne S ignificant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesHistory Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual Politics of Law Enforcement and the LAPD Allen