• Home
  • Study Resources
    • group1
      • Business
        • Accounting & Finance
        • Business Environment
        • Business Law
        • Business Plan
        • Change Management
        • Economics
        • Human Resource Management
        • Innovation and Entrepreneurship
        • Operation Management
        • Organisational Behavior
        • Project Management
        • Sales & Marketing
        • Strategic Management
        • Business
        • Accounting & Finance
        • Business Environment
        • Business Law
        • Business Plan
        • Change Management
        • Economics
        • Human Resource Management
        • Innovation and Entrepreneurship
        • Operation Management
        • Organisational Behavior
        • Project Management
        • Sales & Marketing
        • Strategic Management
    • group2
      • Research
        • DBA Thesis
        • Dissertation Undergraduate
        • Dissertation Postgraduate
        • M.Phil / P.H.D Thesis
    • group3
      • Research Proposal
        • DBA Research Proposal
        • Proposal for Undergraduate
        • Proposal for Postgraduate
        • M.Phil / P.H.D Proposal
    • group4
      • Others
        • HND in Business
        • HND in Education
        • HND in health / social care
        • Knowledge Management
  • Blog
  • About Us
  • Contact Us
    • RegisterLogin
    • GET STARTED
Global Coursework
  • Home
  • Study Resources
    • group1
      • Business
        • Accounting & Finance
        • Business Environment
        • Business Law
        • Business Plan
        • Change Management
        • Economics
        • Human Resource Management
        • Innovation and Entrepreneurship
        • Operation Management
        • Organisational Behavior
        • Project Management
        • Sales & Marketing
        • Strategic Management
        • Business
        • Accounting & Finance
        • Business Environment
        • Business Law
        • Business Plan
        • Change Management
        • Economics
        • Human Resource Management
        • Innovation and Entrepreneurship
        • Operation Management
        • Organisational Behavior
        • Project Management
        • Sales & Marketing
        • Strategic Management
    • group2
      • Research
        • DBA Thesis
        • Dissertation Undergraduate
        • Dissertation Postgraduate
        • M.Phil / P.H.D Thesis
    • group3
      • Research Proposal
        • DBA Research Proposal
        • Proposal for Undergraduate
        • Proposal for Postgraduate
        • M.Phil / P.H.D Proposal
    • group4
      • Others
        • HND in Business
        • HND in Education
        • HND in health / social care
        • Knowledge Management
  • Blog
  • About Us
  • Contact Us
  • RegisterLogin
  • GET STARTED

Economics

Global Coursework has huge resources and study materials for students across the world. It has now over 10 millions documents
  • Home
  • Blog
  • Economics
  • Significance of Micro-Environment And the Context of Economics (GC004)
Significance of Micro-Environment And the Context of Economics

Significance of Micro-Environment And the Context of Economics (GC004)

  • Categories Economics
  • Comments 0 comment

Table of Contents

Task 1

1.1. Significance of Micro-Environment

1.2. Business Behavior and Objectives in the context of economics

1.3. Market Structure and its impact on Business Organizations

Task 2

2.1. National Income and its Determinants

Circular flow

Inflation and Deflation

Equilibrium

2.2. Policies of Government Concerning the UK Economy

2.3. Macro-Environment and its impact

Task 3

3.1. Attributes of the International economic environment

3.2. Economic implications for business of operating in a global environment

  Conclusion

  References

Introduction

Business economics is the study of the financial issues and challenges faced by corporations operating in a specified marketplace or economy. Business economics deals with issues such as business organization, management, expansion, and strategy. Studies might include how and why corporations expand, the impact of an entrepreneur, the interactions between corporations, and the role of governments in regulation.

Economics refers to the study of the components and functions of a particular marketplace or economy, such as supply and demand and the effect of the concept of scarcity. Within an economy, issues regarding products may be examined, as well as distribution methods. Further, consumption by the associated economy’s population can be analyzed.

Task 1

Significance of Micro-Environment

To lead an organization efficiently and effectively the business must have to recognize external and internal influences and the market where it is operating. There are some factors that influence an organization’s operations, but the organization does not have any control over them. The environment in which these factors operate is called the macro environment (Money instructor, 2013)

On the other hand, there are some economical factors on which an organization can exert its influence. The environment in which these factors operate is called the microenvironment. The organization might not be enough capable to resolve all microenvironment flaws but in the case of the macro-environment, it has effective control (Ibid, 2014.).

Microeconomics is the examination of the financial conduct of Individual purchasers, firms, and business ventures and how wealth is distributed between them. Microeconomics considers capital, work, suppliers of land and as end buyers of the finished items, and in addition to this microeconomics also assesses the suppliers of products and as clients of work and capital. Microeconomics tries to dismember the business as a gathering of distinctive instruments that make relevant expenses by producing items and services and allocate available profits to the various jobs it performs (Merriam-Webster, 2014).

Microeconomics is the investigation of choices that people and businesses make concerning the spread of wealth and aggregate supplies despite incurring relevant costs. It is mainly focused on the diverse constraints which help to generate different levels of value in a country. For example, political economy game plans give off an impression of being favorable for agreeable business and helping them to extend its operations in such a way that it reduces its costs thus increasing is competitiveness.

Our Recommended Resources:

The Macro Environment And Business

Managing Communications, Knowledge & Information

Micro-economics’ is significant in the following ways

  1. Microeconomic decisions are crucial to understanding the operations of a free-market economy. It describes how the expenses of the items produced and the variables of manufacturing are important. It sheds some light on the subject of how the products and services produced are dispersed among the people for utilization through the use of business sectors.
  2. Micro-economics aids in acquiring knowledge about the state of productivity. Profit-making concerns help in explaining the state of productivity in usage, production and in the scattering of the prizes of parts of the production process. It highlights the components which are accountable for the divergence from perfect effectiveness. It also proposes new approaches which help in the improvement in productivity of the people………

For Full Documents Click Download Button

Free – Download Checkout Added to cart

 

  • Share:
author avatar
Editorial Team

Previous post

Briefly Describe the Term Macro Economics (GC003)

Next post

The Macro Environment And Business (GC005)

You may also like

Strategic Macro-Environmental Factor Analysis
Strategic Macro-Environmental Factor Analysis (GC012)
4 February, 2020
Three Types of Economies and Economic Problem of Scarcity
Three Types of Economies and Economic Problem of Scarcity (GC011)
4 February, 2020
The Macro Environment And Business
The Macro Environment And Business (GC005)
4 February, 2020

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Treading Quarry

    Unit 1 The Business Environment M&S and NHS Assignment Help
    Unit 1 The Business Environment M&S and NHS Assignment Help (GC01304)
    15Feb2021
    Unit 16: Managing Communications, Knowledge and Information
    Unit 16: Managing Communications, Knowledge and Information (GC015)
    04Feb2020
    Strategic Macro-Environmental Factor Analysis
    Strategic Macro-Environmental Factor Analysis (GC012)
    04Feb2020
    Three Types of Economies and Economic Problem of Scarcity
    Three Types of Economies and Economic Problem of Scarcity (GC011)
    04Feb2020
    Unit 16: Managing Communications, Knowledge & Information
    Unit 16: Managing Communications, Knowledge & Information (GC010)
    04Feb2020
    Managing Communications, Knowledge & Information
    Managing Communications, Knowledge & Information (GC009)
    04Feb2020
    The Macro Environment And Business
    The Macro Environment And Business (GC005)
    04Feb2020
    Significance of Micro-Environment And the Context of Economics
    Significance of Micro-Environment And the Context of Economics (GC004)
    04Feb2020
    Briefly Describe the Term Macro Economics
    Briefly Describe the Term Macro Economics (GC003)
    04Feb2020
    HND in Nursing: Group Clinical Supervision
    HND in Nursing: Group Clinical Supervision (GC002)
    04Feb2020

    Login with your site account

    No apps configured. Please contact your administrator.

    Lost your password?

    Not a member yet? Register now

    Sign up for Newsletter

    Our Main Categories

    • Business
    • DBA Research Proposal
    • Research Proposal
    • Research
    • Blog

    Get To Know Us

    • Home
    • Privacy
    • Terms
    • About Us
    • Contact Us

    Contact Us

    • support@globalcoursework.com
    • +44(0)7805072437
    • 56B Bigland Street, London, E1 2ND UK.
    Facebook-f
    Twitter
    Linkedin-in
    Youtube

    Global Coursework all Copyright Reserved @2020

    • Home
    • Privacy
    • Terms
    • About Us
    • Contact Us
    No apps configured. Please contact your administrator.

    Login with your site account

    No apps configured. Please contact your administrator.

    Lost your password?

    Not a member yet? Register now

    Register a new account

    Are you a member? Login now