macroeconomics chapter 4

Addition of all the different parts of the economy 

• Trade deficit 

• Aggregate economy 

• Business spending

• Budget surplus 

The economy of individuals (demand side) of our society and  the business people (supply side) 

• Total government debt 

• Macroeconomics

• Microeconomics

• Corporation 

Individuals,business people and the government 

• Net exports

• Microeconomics

• Business spending

• Macroeconomics

Households,business firms,and international firms and consumers 

• Private sector 

• Business firms (suppliers)

• Public sector 

• Partnership

Public sector 

One or more people sharing a space-occupy a unit of housing 

households spending 

Is a business organization controlled by single management 

• Total government debt 

• Limited liability company 

• Business firms (suppliers)

• Aggregate economy 

A business owned by a single person,who receives all the profits and is responsible for all is debs 

• Aggregate economy 

• Corporation

• Sole proprietorship 

• Partnership

A business owned by two or more partners,who shares the profit and share the responsibility for debts or losses 

• Partnership

• Trade surplus 

• Total government debt 

• Net exports