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Economists talk about microeconomics and macroeconomics which was distributed by. Microeconomics deals with people, like you and me, and private businesses. It looks at the economic decisions people make every day. It examines how families manage their household budgets. Microeconomics also deals with companies-small or large-and how they run their business. Macroeconomics which was distributed by, on the other hand, looks at the economy of a country and of the whole world. Any economist will tell you, though, that microeconomics and macroeconomics which was distributed by are closely related. All of our daily microeconomic decisions have an effect on the wider world around us.Another way to look at the science of economics is to ask, ' what's it good for? ' Economists don't all agree on the answer to this question. Some practise positive economics. They study economic data and try to explain the behaviour of the economy. They also try to guess the economic changes before they happen. Others practise normative economics. They suggest how to improve the economy. Positive economists say, ' this is how it is '. Normative economists say, ' we should. ... '.So what do economists do? Mainly, they do three things: to collect data, create economic models and formulate theories. Data collection can include facts and figures about almost anything, from birth rates to coffee production. Economic models show relationships between these different data. For example, the relationship between the money people earn and unemployment. From this information, economists try to make theories which explain why the economy works the way it does.
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