You’ve probably heard about macroeconomics, but what about microeconomics? Is it really important? In this article, we’ll examine the principles of microeconomics and the antitrust glare on Capitol Hill. And you might even have wondered whether Google should be regulated, or how it can evade antitrust laws. In the meantime, read on for a few articles about microeconomics in the news.
Macroeconomics is a microeconomics
In the field of economics, macroeconomics is an important discipline. This branch of economics studies the overall functioning of an economy and the relationships among various agents, such as firms, governments, and households. It also looks at how economic phenomena affect an economy, such as unemployment rates and net exports. In addition, macroeconomists study the impact of international trade on economies, as well as the relationship between wages and employment.
Just as physicists study the big picture of nature and atoms, economists examine the interactions between various components of an economy. In macroeconomics, the focus is on the long-term economic growth and stability of an entire country. It also examines how the economy reacts to short-term deviations from equilibrium. The discipline also involves the formulation of policies for stabilizing a national economy, including spending, taxing, and monetary policy actions by the central bank.
Principles of microeconomics
You might have heard about microeconomics and its concepts in news articles, but how would you know if you’ve read a good news article about it? Well, microeconomics is the study of individual consumer behavior and business behavior. It examines how different factors affect prices, production, and capacity. In addition, many economic systems fall under microeconomic theory, such as market, command, and traditional economies. While these types of systems deal with different aspects of economic behavior, many of the basic problems that are solved by economics are the same regardless of the type of system.
Scarcity and the best distribution of scarce resources are central issues in economics, which means there’s only so much land, raw materials, and labor. It’s important to understand the concepts of scarcity and how they affect the economy. This is because there’s only a finite amount of a given good, resource, or idea. The building blocks of an economy include land, labor, capital, and entrepreneurship.
Google faces antitrust glare on Capitol Hill
As Google continues to face antitrust wrath on Capitol Hill, the company has been facing a barrage of criticism. On Wednesday, a group of 10 Republican AGs sued the company, targeting Google’s advertising technology division and alleged illegal deals with Facebook. The company, which has long criticized Google’s practices, said it was shocked by the allegations and called it bad news for journalism and freedom of the press. In response, Google avoided financial penalties and pledged to change its business practices. However, this result has irked some critics who viewed the company’s outcome as little more than a slap on the wrist. Despite the current political climate, big tech companies have been in the doghouse in Washington for months. The COVID-19 crisis has put the relationship between Google and Washington to the test.