Influence of Microeconomics on Environment

I think there is no worse blind than he who does not want to see. Many scientists are continually alerting about the situation that human life will face in the future. Well, it is thought that the world will face the sixth mass extinction. The noticeable negative changes that our planet earth is experiencing at accelerated levels are unusual. Millions of people live under total environmental ignorance. While people (the least) fight for humanity, many others (most) do not know about biodiversity or pollution.

The climate change brings with it the warming of the oceans and the melting of the glaciers. Maritime biodiversity decreases continuously. Phytoplankton absorbs CO2 and releases O2, more than 50% of the oxygen on our planet originates in the oceans. Phytoplankton is in danger; one of the causes is that 90% of whales and sharks have disappeared. Whales release large amounts of nutrients near the surface where phytoplankton can grow, and sharks are large predators that help regulate the food chain of the seas.

Pollution in the waters, oil spills, plastic waste, acidification, acoustic pollution are very negative factors for phytoplankton and also for coral reefs that are suffering from bleaching due to high temperatures. So it is estimated that by 2048 the oceans are empty.

Microeconomics and Macroeconomics are codependent of each other yet share many differences. The main difference between the two is that Microeconomics focuses on specific businesses and groups of peoples, whereas Macroeconomics focuses on business as a whole. Both of these economic types function in different ways.

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Microeconomics works with the function known as supply and demand in which they analyze how a company is affected by sales and certain obstacles that come with it. On the other hand, macroeconomics looks at how the government and other corporations work with money and how economics plays out in business as one big picture.

Many people get confused with the purpose that microeconomics plays out. Instead of showing what resources play out in economics, it shows how resources can affect the economy in general. Microeconomics is essential for those who want to figure out how they can organize their production to get the best outcome and best earnings. During the reconsideration of microeconomics, people need to take into account the production theory which shows how certain products are created, the costs of demand which indicate how much a particular item or service will cost according to how much it costs to make, and labor economics which shows how wages will be set out in a company according to all other factors in the production.

Macroeconomics takes into account GDP, or gross domestic product, to figure out how the country is affected by net exports and other factors that come into the picture of how an economy is supposed to function. Some of the primary triggers that play an essential role in GDP are unemployment, rate of growth, price levels, and incomes. Monetary and Fiscal policy comes out of the process known as Macroeconomics. The monetary policy is essential because it ensures that price levels are balanced and business trust is promised. The Fiscal policy helps the government figure out its spending limits and production to guarantee that the economy does not go downhill.

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Influence of Microeconomics on Environment. (2021, Apr 26). Retrieved from http://studymoose.com/influence-of-microeconomics-on-environment-essay

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