Economics Essay

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Case Questions for BSM706 Econ Principles for Managers Holly Caldwell Indiana Wesleyan University BSM706 Econ Principles for Managers Thomas Vogel March 10, 2015 I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Catalog relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper, I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing of this paper, I understand the possible consequences of the act/s, which could include expulsion from Indiana Wesleyan University. IWU ECO – 310- Case Questions 1 The "case" company for this introductory week is Louisville-based Yum Brands - KFC, Pizza Hut, and Taco Bell. Each question will require web/IWU library research to answer. Each question will require approximately one to two paragraphs. I intentionally build questions that require much more than mere regurgitation from the book. My questions always require extra research on the actual application of economic principles. Here are the questions. Please insert a response in bold beneath each question. Remember to use APA citations when necessary. 1. Explain the difference between microeconomics and macroeconomics. What are some of the microeconomic (company-specific) factors affecting Yum? What are some of the macroeconomic factors affecting the firm? Explain. Microeconomics is the study that looks at the choices that people and businesses make in regards to the distribution of resources and prices of goods and services. Whereas, macroeconomics is the study that analyzes the behavior of the economy overall, not just on specific companies, but entire industries and economies. Microeconomics and macroeconomics do go hand in hand in studies

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