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Macroeconomics Paper

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Economics is the science and the study of choices which are made by organizations and individuals. It is a broad discipline that uses different questions and methods to reach answers and many f he issues in the world are considered to be economical issues in nature (Baumo & Blinder,2015). There are two types of economics: macroeconomics and microeconomics. Macroeconomics deals with the economy of the nation as a whole, whereas microeconomics deals with the choices used by government, households and firms and how their choices impact the services and the goods of the market (O'Sullivan, 2010). There are different factors that can affect the microeconomics (production of services and goods in any market) like the natural resources, human and …show more content…

Apple Company continues in keeping most of its products and services designed and developed in the United States (Kraemer, Linden & Dedrick, 2011). Additionally, it was founded in 1976 by Ronald Wayne, Steve Jobs and Steve Wozniak and its beginning it is only dealt with personal computers and they called their company Apple computer, and then it changed in 2007 to Apple because its focus shifted towards clients' electronics. For example, the hardware services and products like smartphone (IPhone), tablet (IPad), personal computer (Mac), media player (IPod), smartwatch and the Apple TV, the software services such as IOS, Safari, macOS and ITunes, and the online provided services like ITunes and IOS stores and …show more content…

Oligopoly market structure fits between the extremes of monopolistic market and perfect competition (Shapiro, 1989). The products in this market are either homogeneous or differentiated. Homogeneous products are equivalent products regarding their identity (Stigler,1964). In addition, demand side is competitive, the side of the supply is neither competitive nor monopolized, while the side of the demand is competitive (Friedman,1982). So, it's demand is less elastic than monopolistic company. Moreover, it has large numbers of barriers from economics or the policies of the government. There are many examples such as automobiles firms, aircraft firms, mobile phones companies and cigarettes companies. These large firms tend to have an agreement regarding the prices of the products and that would help in reducing uncertainty. Therefore, Apple and Samsung companies are the best two examples of oligopoly market structure as they are having little competitor in the

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