Using scholarly research, develop a 3-5 page paper discussing your understanding of the following terms:
a. Economics
b. Microeconomics
c. The difference between macro and micro economics
d. Managerial economics
From a managerial perspective discuss the importance of understanding how these variables affect the delivery of services in the not-for-profit sector. In studying an organization you are familiar with, discuss how the firm was managed in terms of adjusting to the extant economic climate. If you were the CEO of said firm, how would you have done things differently and why?