The dependence of microeconomics on macroeconomics:
– The wages that firms will fix for the work they hire will be based on the work given and done, and will also depend on the prevailing wage rates in the market.
– Individual prices for goods and services set by firms will depend on aggregate supply and demand.
– The disposable income of an individual depends on the tax policy established by the government. Tax policy is part of a country’s macroeconomics.
– The individual usefulness of products and services depends on the products produced. If the prices of replacement goods are lower, then the consumption pattern is shifted towards this good.
– There are many other examples showing that policies and strategies developed in microeconomics depend on policies that already exist in the economy as a whole.
Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.