Fundamentals of Economics. Доловова Н.Н - 46 стр.

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various economic problems. In short, macroeconomics examines the forest, not the
trees. It gives us a bird's-eye view of the economy.
On the other hand, microeconomics is concerned with specific economic units
and a detailed consideration of the behavior of these individual units. When operating
at this level of analys is, the economist figuratively puts an economic unit, or very
small segment of the economy, under the microscope to observe the details of its
operation. Here we talk in terms of an individual industry, firm, or household, and
concentrate upon such magnitudes as the output or price of a specific product, the
number of workers employed by a single firm, the revenue or income of a particular
firm or household, the expenditures of a given firm or family, and so forth. In
microeconomics we examine the trees, not the forest. Microeconomics is useful in
achieving a worm's-eye view of some very specific component of our economic
system.
Key concepts
macroeconomics - the study of economy-wide
phenomena, including inflation,
unemployment, and economic growth
microeconomics - the study of how households and firms
mak e decisions and how they interact
in markets
Words to remember
to arrange - улаживать, приводить в порядок
to interpret - объяснять, толковать,
интерпретировать
to generalize - обобщать; сводить к общим законам
to tie - связывать
barren - бесплодный, неплодородный,
непродуктивный
validity - дейс твительнос ть, обоснованность,
вескость, достоверность
essential - существенный, весьма важный,
strewn - разбросанный
obsolete - вышедший из употребления,
устарелый, изношенный

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