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Microeconomic values set the foundation for businesses all across the world. Macroeconomic policies shape the destinies of nations and countries.
Microeconomics is a key tool in everyday society that we all encounter, it is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. The taxes, regulations and other programs the government has are everyday examples of microeconomics. The decisions that these individual businesses make due to these regulations and taxes is why microeconomics are an important tool in society. For example, if the government raises taxes on a particular good, then the business will also raise the price to the consumer, who is purchasing the good...
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