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Macro And Microeconomics In Decision.edited

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Economics
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Running head: MACRO AND MICROECONOMICS IN DECISION MAKING
Macro and microeconomics in decision-making
Name of the student:
Professor:
Class:
Date:

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MACRO AND MICROECONOMICS IN DECISION MAKING
Macro and microeconomics in decision-making
I have been enlightened so much after attending the macro and microeconomics class.
Microeconomics studies on the individual actions of consumers and the firms with management
applied in this specialty. On the other hand, Macroeconomics handles the structure, performance,
and behavior of our economy. Quantitative methods are used in analyzing data from the
economy ("Editorial, International Economics," 2019). Worth noting, the most important
function of economics is in making good business decisions. This involves selecting the most
suitable move from more than one alternatives. The core function is making the most profitable
usage of the available resources limited, such as land, capital, and labor. The manager should be
prudent when making decisions because the future is uncertain. This will be possible by ensuring
that he lays down the best possible plans that are created most effective in achieving the desired
goals; maximizing profit (Farnham, 2015).
In making decisions, there needs analyzing the demands and forecasting. There are
estimation and assessment done on future sales, thus helping strengthen the market position and
yield huge returns (Farnham, 2015). In economics, a firm's success depends on the primary
measure, which is the returns. Companies are operated to yield a long-term profit that is
generally a prize for taking the risk. With appropriate planning and measuring the company's
profit, the company will be steered towards success.
With a keen interest in the class sessions, I have carried multiple research on profit
management. The success of a company or organization depends on capital management, which
involves controlling and planning for the company's expenses. Time and labor are among some
of the factors related to capital investments (Farnham, 2015). Capital management infers to the
strategy, which strives to maintain and equally level the current assets, liabilities, and capital. It

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1 Running head: MACRO AND MICROECONOMICS IN DECISION MAKING Macro and microeconomics in decision-making Name of the student: Professor: Class: Date: 2 MACRO AND MICROECONOMICS IN DECISION MAKING Macro and microeconomics in decision-making I have been enlightened so much after attending the macro and microeconomics class. Microeconomics studies on the individual actions of consumers and the firms with management applied in this specialty. On the other hand, Macroeconomics handles the structure, performance, and behavior of our economy. Quantitative methods are used in analyzing data from the economy ("Editorial, International Economics," 2019). Worth noting, the most important function of economics is in making good business decisions. This involves selecting the most suitable move from more than one alternatives. The core function is making the most profitable usage of the available resources limited, such as land, capital, and labor. The manager should be prudent when making decisions because the future is uncertain. This will be possible by ensuring that he lays down the best possible plans that are created most effective in achieving the desired goals; maximizing profit (Farnham, 2015). In making decisions, there needs analyzing the demands and forecasting. There are estimation and assessment done on future sales, thus helping strengthen the market position and yield huge returns (Farnham, 2015). In economics, a firm's success depends on the primary measure, which is ...
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