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Microeconomics
The study of decisions that people + businesses
make regarding allocation of resources + prices
of goods + services
> Also have to take into account taxes + regulations
Focuses on supply + demand + other forces that
determine price levels in the economy
E.g. Microeconomics would look at how a
specific company could maximise it's
production + capacity so it could lower prices +
better compete in its industry…read more

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Macroeconomics
The behaviour of the economy as a whole +
not just specific companies
> Entire industries + economies
E.g. Macroeconomics would look at how
GDP is affected by changes in
unemployment, national income, rate of
growth + price levels…read more

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Interest rates
The cost of borrowing money and the return
of lending money
They also measure the opportunity cost to
both individuals and firms of spending
money rather than saving it and receiving
interest…read more

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Current interest rate
"The Bank of England's Monetary Policy
Committee (MPC) voted on Jan 10th 2013 to
maintain the official Bank Rate paid on
commercial bank reserves at 0.5%"…read more

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Interest rates in the past
These are the interest rates from
JAN 2000 ­ FEB 2013…read more

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