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short journal article Bromsgrove School

Difference between microeconomics and how to write feature articles albert college macroeconomics. Micro economics is about economic situations pertaining to an individual. Macro economics is how to write conclusion essay durham university more concerned with the whole economy. Microeconomics economics is generally with prices as their main concern. Its important to note that ideals situations in microeconomics may not rhyme with the general economy (macroeconomics). Mean while microeconomics and macroeconomics are relatively interlinked. For micro economics, the ease of supplying goods and services depends on the general investment and short journal article Bromsgrove School activities in the how to write conclusion essay durham university, whole economy. Meanwhile the short journal article Bromsgrove School, total performance of macro economics is a subject of the total activities that take place in micro economics (Farmer, 1999, p. How to write a news article College du Leman! 200). Economic agents are players in economics who make decisions on how much to spend on how to write conclusion essay durham university, an item or whether the need needs any attention at all. Basic concepts on microeconomics and how to write a news article college du leman macro economics. All goods produced by an economy equals to consumption of the house holds. This is an assumption that nothing produced by the economy is the same with what the households require. In this article, we discuss the different forms of wants. One obvious thing is that wants will always be present and they will always require attention all times. How to write feature articles Albert College! If you give a mouse a cookie is short journal article Bromsgrove School a literature book purposely addressed to small children. However it contains immense economic concepts. This book was written Laura Joffe Numeroff. A story is told of a boy who was taking some time to rest when an unexpected visitor showed up, a mouse. The mouse had different wants and needs which mutated as the short journal article Bromsgrove School, day progressed. The boy felt companionate about the short journal article Bromsgrove School, lone traveler and writing an analytical essay ashville college he generously gave him a cookie. short journal article Bromsgrove School! On receiving the cookie, the mouse developed a new want, he asked the boy to short journal article Bromsgrove School, assist him with milk so that he could be comfortable taking the cookie offered to him by the boy. The boy is kind enough and gives the rat some milk. Once it was done taking milk it asked the boy if he could avail a mirror so that it could check if there was any milk mustache. Once he looked into the mirror he was shocked at the size of his hair. He needed a shave so he requested the boy to avail pair of scissors. Once the boy trimmed the mouse hair, the house was littered with hair. He needed to look for a broom and clean up the place. This story is an appropriate background to base our argument on characteristics of microeconomics and macro economics. We shall be in a position to understand the nature of human wants, what it takes to satisfy them and the various challenges involved. We also get to analyze the various strains that befall the economy as a whole (TR Jain, 2010, p. 67). The mouse gave the boy a difficult afternoon with its unlimited wants and needs. Human wants and needs connect to the character of the mouse. People are faced with difficult challenges in making choices between what to prioritize and what leave out among numerous wants and needs that pop out each day. This paper will connect on this phenomenon in relation to micro economics. Micro economics deals with the relation ship between buyers and sellers. It is also concerned with the factors that affect it. Macro economics on the other hand IS concerned with the brooder national economy. First of all wants and needs can not be satisfied. Once a need has been addressed, it seems satisfied for that moment. After some times it represents itself again and require attention one more time. Needs like food require that a person keeps on writing a article istituto marangoni milano, satisfying them time after time. Wants are complementary in the sense that one leads to another. The mouse sows the need to short journal article Bromsgrove School, have milk at his disposal once he was served with a cookie. A need or a want may require another different want to be satisfied. The later is a subject of fulfilling a need. For example a person who buys a car will need to buy gas also else they may not satisfy their need to how to write feature articles albert college, drive car. Wants vary with situations and time. Mouse needs changed with situations like when he saw a mirror he immediately wanted to have a shave. Taking the boy to symbolize the economy, one will realize the obvious strain posed. First of all the boy has to keep on attending to the demands of how to write a research essay thesis queen anne’s school the mouse. Most likely it’s not his resources he uses to satisfy the mouse endless demands. Some times the economy is strained in delivering services with regard to writing a article istituto marangoni milano, numerous high demands; it may also not be in a position to serve all needs at its disposal. How to write feature articles Albert College! The econ9omy must also be in a position to offer required services once they arise this are depicted in the boys character. How to learn essay writing The University of Kansas! He was always ready to attend to the mouse demands. The boy’s actions are however outrageous this is short journal article Bromsgrove School because in micro economics and short journal article Bromsgrove School macro economics, exchange of both services and short journal article Bromsgrove School goods take place. The boy was only providing to the mouse which in return offers nothing in how to learn essay writing the university of kansas, return. If households in an economy do not provide services to the short journal article Bromsgrove School, economy, the economy must also not attend to its requirements since it would be equally impossible to sustain the economy. The boy is not doing a single thing to how to write conclusion essay durham university, help in provision of goods. short journal article Bromsgrove School! If the boy exhausted all he had trying to short journal article Bromsgrove School, serve the mouse, he would then end up with nothing for himself to spend leave alone the mouse (Weintraub, 1979, p. 200). Use of resources is crucial in an economy. Resources are supposed to be used apropriatly and when need arises. short journal article Bromsgrove School! In order to make good use of short journal article Bromsgrove School resources it is important to short journal article Bromsgrove School, carryout training to the general population. It would not be wrong to assume that the short journal article Bromsgrove School, boy had little if any knowledge on how to spend the little resources at his disposal. It is also important for the general public to know when to spend on a particular want or when not to spend. Economic developments can only be achieved if resources are used appropriately and the best is made out of them (Farmer, 1999, p. 160). In macro economics, we also learn the various implications of house holds behavior to the whole economy. If the how to learn essay writing the university of kansas, economy is strained by the various wants it may end up becoming un able to provide to the house holds. Resources must be availed to enable the short journal article Bromsgrove School, economy support the households. The boy was serving the mouse consistently yet there was no replacement of the goods he gave out. It implies that he could have got himself into a position where he could no longer have something to writing an analytical essay ashville college, offer the mouse. In fact the boys actions can be regarded an abuse of the economy (Weintraub, 1979, p. 200). Amitava Krishna Dutt, J. R. (2003). Development Economics and Structuralist Macroeconomics. Cheltenham: Edward Elgar Publishing. Farmer, R. E. (1999). The Macroeconomics of short journal article Bromsgrove School Self-fulfilling Prophecies. Cambridge: MIT Press. TR Jain, V. O. (2010). Introductory Microeconomics and Macroeconomics. New Delhi: FK Publications. Weintraub, E. R. (1979). How to write feature articles Albert College! Microfoundations. São Paulo: Cambridge University Press.