MAPA MENTAL

Demand

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Macroeconomics

Microeconomics

Supply

Market Price

Equilibrium price

Negative Balance

Positive balance

Mercantilism

Free trade

Economic liberalism

Balance of trade

Monetary policy

Multinational corporation (MNC)

Special Drawing Right (SDR)

Fiscal policy,

International trade

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The microeconomis is the study of households and firms

MICROECONOMICS

EXAMPLE

• PURCHASE DECISION OF A FAMILY
• THE PRODUCTION AND COSTS OF A COMPANY
• FAMILY EXPENSES
• BUSINESS INVESTMENT

one whose parent company was created and registered in one country, but which has subsidiaries in different countries.​​

Multinational corporation (MNC)

example

• McDonalds.
• Google
• Samsung.
• The Coca-cola Company.

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The flow of goods and services across national boundaries unimpeded by tariffs or other restrictions; in principle (if not always in practice), free trade was a key aspect of Britain’s policy after 1846 and of U.S. policy after 1945.

Free trade

Example.

• analgesics (pain relievers) such as aspirin and acetaminophen.

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• Saudi Arabia in relation to oil has the power to unilaterally manipulate supply, since it can raise or lower prices

The supply curve is when sellers vary the value they give to the item. If the price increases, more sellers are willing to offer the item for purchase; if the price decreases, fewer sellers will be willing to supply the item.

SUPPLY

EXAMPLE

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The value of a state’s exports relative to its imports.

Balance of trade

Example:

• China has run a large trade surplus for years, over $440 billion in 2017. It gets more money for the many goods it exports than it pays for raw materials and other imported goods

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MACROECONOMICS

EXAMPLE

• GROSS DOMESTIC PRODUCT
• RATE OF UNEMPLOYMENT
• INFLATION

Macroeconomics is the study of national economies, it is also the set of variables that we call Economic Aggregates.

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An economic theory and a political ideology opposed to free trade; it shares with realism the belief that each state must protect its own interests without seeking mutual gains throughinternational organizations.

Mercantilism

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• China has been an example of a trade surplus for years, as it obtains more money for the many goods it exports than what it pays for raw materials and other imported goods

This happens when a state exports more than it imports, therefore it has a positive trade balance.(trade surplus)

POSITIVE BALANCE

EXAMPLE

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• The price of oil sometimes rises so that Western economies (demand) enter a recession and prices level out, and the equilibrium price between supply and demand occurs

EQUILIBRIUM PRICE

EXAMPLE

In a free market, the price that intersects the supply curves and the demand curves is called the equilibrium price.

This condition asan approach that generally shares the assumption of anarchy (the lack of a world government) but does not see precluding extensive cooperation to realize common gains from economic exchanges

Economic liberalism

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The protection of domestic industries against international competition, by trade tariffs and other means.

Protectionism

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uses the amount of money as a variable to control and maintain stability

Monetary policy

example

• The government lowers interest rates to make it cheaper for people and businesses to borrow money

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When a state is economically characterized in that it imports more than it exports, it has a negative trade balance (trade deficit)

NEGATIVE BALANCE

EXAMPLE

• The United States has a trade deficit that has grown steadily to hundreds of billions of dollars, a quarter of which corresponds to China and another quarter to oil imports.

The related event is called a demand curve when the price goes up, fewer people are willing to buy it and if the price goes down, more people are willing to buy it.

DEMAND

EXAMPLE

• FOR EXAMPLE THE PRICE OF OIL WHEN IT FALLS, MORE PEOPLE COME TO BUY THE PRODUCT

• For example, members of the Organization of the Petroleum Exporting Countries OPE (seller) They agree to maintain prices and in this way ensure that companies continue buying

Market prices are regulated when sellers know that an effort to increase the price would lead the buyer to look for another seller, and buyers know that an effort to lower the price would lead the seller to look for another buyer.

MARKET PRICE

EXAMPLE

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the use of government spending and taxation to influence the economy.

Fiscal Policy.

Example

• tax cuts and increased government spending

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