Question

in your view, how could an understanding of micro and macro economics enhance the operations of a business?

Answer 1

Answer:
The study of microeconomics helps the decision makers to analyse and determine how the productive resources are being allocated among various goods and services. It also helps in solving producers dilemma of what to produce, for whom to produce and how much to produce.
Macroeconomics help in taking top down approach and look the economy as a whole, various decisions taken by government and their policies and by knowing all these we can take inform decision about business course and actions. So by knowing both micro and macro economics we can take informed decision which will have all round inputs.

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