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NEED URGENT HELP- economics

need help on answering this question, how macro and microeconomics factors can help boost the uk economy
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Mav455
17
Macro is Trade, Inflation, Employment, Growth and Redistribution of wealth and income
Not sure about macro, but you`d basically explain those factors above e.g.:
Employment means people are out working and earning, so the money they earn goes on goods and services which help firms profit. The work they do contributes to a firms output e.g. a sales assistant is convincing people to buy products, when these people buy products, money goes to the firms.
Inflation means that if inflation is low, prices arent rising too fast, so consumers will spend more. If they spend more, firms are making more money, so national output increases.
Growth means the national income and output has risen, benefiting everyone from firms, to the government to consumers.

Hope that helps :smile: Quote me if you need anymore help

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