How big is the world's economy compared to the richest man and the corporation with highest revenues?

Economics Dec 12, 2020

Expert Solution

Based on the given information, as compared to the richest man or individual on the earth, the revenue of the world's economy is much larger. The study of an individual's income and wealth included as a part of microeconomics, while the study of the world economy's revenue included as a part of macroeconomics.

The number of richest individuals in the world represents the world economy that must be included as a part of the world economic system.

For example - 'Amazon', on January 7, 2019, the most expensive company in the world by overtaking its competitor.

The ower of this company and its revenue is a big part of the national and world's revenue, but it is included as a microeconomic variable.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote