00:02
Hi, identify whether each of the following statements identifies as a microeconomic or macroeconomic issue.
00:07
Just for the sake of, like, riding, i'm going to put it a next to something that's micro and a b next to something as macro.
00:14
So let's just understand the difference between the two.
00:17
So microeconomics has applications in trade, industrial organization, market, structure, labor economics, both clients and welfare economics.
00:25
Macroeconomics is the study of countries and governments.
00:27
Another good one is macroeconomics deals with demand, supply, factoring, product, pricing, economic both for production, consumption, and more.
00:36
And macroeconomics deals with various issues like national income, distribution, employment, general price level, money, and more.
00:42
Okay, so that's enough information, i think, to solve this.
00:46
Mika negotiates a long -term contract for capital equipment for her property management business.
00:50
Okay, that is a microeconomic issue since it's about what a company is doing and it's about contracts, capital equipment, and so forth.
01:00
Inflation was fueled by the increase in rent and energy prices...