Microeconomics and Macroeconomics: Key Concepts and Variables
Microeconomics and Macroeconomics
Microeconomics studies decision-making by economic agents and the relationships between offerors and applicants in its context (the market). Macroeconomics is the part of economics that studies the functioning of a country in its economic sense and analyzes the economic problems from a global perspective.
Economic Variables
The overall result of the economic actors is reflected in large houses named macroeconomic variables. The set of economic variables are collected
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Economy: Understanding Scarcity and Resource Allocation
Economics is the science that studies the allocation of scarce resources to multiple needs. The economy seeks to find the best allocation of resources (which are limited) to needs (which are infinite), given that the election process involves postponing the satisfaction of certain needs.
Economic Rationality
Economic rationality refers to the behavioral assumptions under which decisions are made in the economy. It assumes that individuals pursue
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Keynesian vs. Classical Economics
Keynesians reject the assumption that the economy is free to reach full employment of productive resources. They recommend state intervention through monetary and fiscal policies.
Classical economists rely on the free play of market forces and believe that government intervention should be reduced to a minimum.
Fiscal Policy
Fiscal policy refers to government decisions on the level of public spending and taxes.
Transfers are payments for which those who receive them
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Introduction
In one area, there are the following facts:
- It generated large quantities of goods and services.
- The company has cash resources to spend.
- We need to know these resources are spent on.
Applied Economics – Measuring Economic Activity: It is all those operations to produce goods and services using labor and capital to do some intermediate inputs into a production process in order to obtain outputs.
Measuring Economic Activity
To measure economic activity, we need to define, for an understanding
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Working Capital and Financial Analysis
Working capital is a key aspect of a company’s economic structure. It forces us to consider whether the company has a safety fund to enable us to meet short-term obligations. It’s calculated as:
Current Assets – Current Liabilities = Working Capital
Financial analysis reflects the balance held by the company. For a positive financial situation, the result must be positive. There are four possibilities:
- Total equilibrium: Maximum financial stability. No debts.
- Financial
Human Resources Management: Key Functions and Best Practices
1.4 Communications in the Personal Area
The company sets up communication systems to capture information, both internally and externally, and channels it to achieve objectives.
The HR department performs internal communication and must establish who the senders and receivers are to channel and disseminate the information correctly.
- Kind of communication:
- Descending communication: Hierarchies are transmitted over subordinates, and objective standards are met and orders given. This communication reports