The term macroeconomics is mostly confused with microeconomics and so there is need to first put up a clear distinction of the two. The online Business dictionary site, by the Walden University, defines macroeconomics as the “Study of the behavior of the whole (aggregate) economies or economic systems instead of the behavior of individuals, individual firms, or markets (which is the domain of Microeconomics)” (Vienneau 612).
This definition puts someone’s mind into an understanding since there is always a difference and yet a very close relationship which may raise confusion when handling the two subjects; macro-economic and micro-economics.
Dornbusch and Fischer, in the book ‘Macroeconomics’, introduces macroeconomics as a subject that “is concerned with the behavior of the economy as a whole – with booms and recessions, the economy’s total output of goods and services and the growth of output, the rate of inflation and unemployment, the balance of payments, the exchange rates” (5).
Dornbusch and Fischer also adds that, it “..deals with the increase in output and employment over periods of time which is the economic growth and with the short-run fluctuations that constitute the business cycle” (5).
Dealing with the economies and the trends in which they have been taking since times in memorial until now when technology growth is so dynamic that being left behind is almost inevitable, Journal articles are thriving in the market.
‘Business Day’ for example is a journal that is published in America in New York City Times in English. It is a well known newspaper and circulates most in America with updates on the daily economic occurrences, successes and failures, including the new technology in the market. Purchasing is done by online subscriptions and is also available in paper formats.
One question that one would easily ask when confronted with this kind of a question would be; that is it the only paper in America? And why is it the most marketable paper in the New York City? What are the market strategies used to make it more marketable and most selling paper than the rest? The answers to these questions will be the major concentrations of this subject macroeconomics since it handles the trends in economic developments, fluctuations, and the prospective future of the economy.
The article is selling at a highly in America meaning that the demand and supply almost rank at per or sometimes goes beyond the normal where the available articles in paper formats for example is not enough hence being a disadvantage to those who are comfortable with the paper format only. With the online subscription however, most clients’ demands are met hence becoming better way to access the article without being overtaken by the large number of clients.
The way the demand and supply for the journal operate within America is so unpredictable since no one can give an exact state of the demand or supply at whatever one time unless on a general estimate (Vienneau 612). It is for this reason why the following possible curves will at one particular point or the other exist or will be expected:
The Law of demand and supply: the law of Demand and supply are the factors that determine how the market of any product will behave. They operate together in that; the rise in demand while the supply is constant means higher equilibrium in prices and quantities. This is represented in the following diagram taking a demand schedule for the ‘Business Day’ as follows, then the following curves: