ASSIGNMENT:
Start your discussion by examining the differences between the definitions of the macroeconomics and microeconomics? Next, discuss how the concepts of supply and demand relate to (1) microeconomics and (2) macroeconomics.
In order for you to demonstrate understanding of the supply and demand, from the perspective of a microeconomic vs. macroeconomic, discuss the following questions pertaining to the 2 scenarios below.
Is the scenario a macroeconomic or microeconomic example of supply and demand
Is this impacting supply or demand?
Is this example going to experience a shift or a movement of supply or demand?
As a result of this change, what happened to equilibrium price and quantity?
Scenario 1:
After the development of the microchip, what happened to the price of computers?
Scenario 2:
A new health report came out that said red wine lowers cholesterol.
Requirements:
At least 2 online resources with in-text citations and Reference list
APA Format
400-800 words