Question

XYZ Company is aware that both macroeconomics and microeconomics play a general role in its organization’s success. Top-level management has asked you to conduct research, and then write a report on specifically what role it should play in its overall success. Management has asked for information on the following as it relates to the organization: Elasticity, consumer choice, productions and costs, supply and demand, aggregate supply and aggregate demand, and macroeconomic measurements.

Length: 3-5 pages, not including title page and references. Please use three additional scholarly sources for support throughout your presentation. Additional reliable sources may also be used.

Answer 1

Answer:
Microeconomics is the investigation of economy a nation's economy in an individual dimension. It doesn't think about total requests and supply; rather, it thinks about individual interest and supply.
While, in contrast to microeconomics, macroeconomics thinks about it in a more extensive dimension. It experiences total interest and supply. It works with national intrigue rather those interests of little scales.
Both have their own significance; microeconomics is very important at market level, whereas, macroeconomics deals with national economic issues.
Elasticity = elasticity, also known as elasticity of demand is the ratio of change in demand with change in the price of the commodity, and other factors such as income etc.
Consumer choice = Buyer decision alludes to the choices that customer make as to items and administrations, its examination includes purchaser's decision over which items to buy or devour after some time.
Production and cost = this is the producer's decision on what to produce, when to produce and what would be its price. This all depends over buyer's decision and market pattern. Higher the interest higher would be the generation and the other way around.
Supply and demand = demand is the consumer’s willingness to buy and supply is producers willingness to sell.
Aggregate demand and aggregate supply = this is the study of demand and supply over national level instead of individual. e.g. Petrol.
Macroeconomic measurements - A bookkeeping framework used to gauge total financial action. The most mainstream technique for doing this is estimating GDP.