Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings

Homework answers / question archive / write an article on business environment: macroeconomics parameters Paper must be at least 3000 words

write an article on business environment: macroeconomics parameters Paper must be at least 3000 words


write an article on business environment: macroeconomics parameters Paper must be at least 3000 words. Please, no plagiarized work! Economics can be described as a social science. It is a study of how individuals, households, firms, consumers, nations maximize their profit with limited resources and availabilities. In economics way, we can term it as generating characteristics or optimizing their behaviors. Optimizing or maximizing behavior means generating more gain for the concerned authorities with a limited amount of resources. So in this type of economic social science people came to know how to utilize the limited resources to reach the targeted result. For example for an individual household, it is like distributing their limited resource (income) into several household goods and services to gain maximum satisfaction for all family members. It’s very hard for the households to decide (what to buy and how much to buy?) to maximize their satisfaction level. Three economic systems are Capitalist Economy or free-market economy, Socialist Economy or state-run economy and mixed economy or public sector economy. Examples of the free market economy are the United States Economy. For a socialist economy or command economy example can be the North Korean economy and for the mixed economy, it can be the United Kingdom’s economy. In a free-market economy capitalist society runs with the method of free organization network. Government’s role in this economy is like- Whenever the government gets a chance to promote competition it does that. Clear all the restrictions for the organizations to operate in a free market. To control the free competitions government should intervene with the market from time to time. Sometimes government interventions motivate free market economy so that other way it wouldn’t be possible. In a command economy, the government role in it is very prominent and strict. For the capitalist economy where the government had a minimum role in the economy but for socialist one government plays a huge role regarding markets rules and regulations. Nations with this system not only dislike free economic systems but also they made strict law against it. In this system, all the productions units and natural resource are controlled by the government and no private organizations are allowed to do that. Another economic system where simultaneously free economic system and socialist economic system works is known as a mixed economy. There two sectors private and public resides simultaneously. Here the private sector can work as a free market entity in broader economic and political restrictions. Main four questions for any economy is ‘what to produce’, ’how to produce’, ’when to produce’ and ’whom to produce’. All the country cannot produce everything by them. Resources are limited and fixed in this world. If a country wants to produce everything by them then that country will not go to make a single thing perfectly and because of the lack of resources in the middle of the work, everything will be stopped or jeopardize. To acquire certain economic goal government policies regarding taxation, current account deficits, subsidiaries and other financial matters which are under government’s or more specifically finance department’s control is known as fiscal policy.&nbsp.

Purchase A New Answer

Custom new solution created by our subject matter experts