Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Introduction
Experienced economists, financial analysts, and business people easily identify the scope of the relevant articles of economic activity. However, beginners are sometimes faced with the problem of recognition of the macroeconomic and microeconomic spheres. According to Chappelow (2019), microeconomics “…studies the implications of human action, specifically about how those decisions affect the utilization and distribution of scarce resources”. The purpose of this paper is to determine the microeconomic characteristics of the BusinessWeek “Sunday Strategist” article, provide a summary and personal opinion on the relevant topic.
Overview from a Microeconomic Perspective
The BusinessWeek article describes the processes that are microeconomic for the following reasons. First of all, the author considers a specific market of the import of medicines, within which there is a scarcity on one side of the trading process (Coy, 2020). There are two specific microeconomic groups represented by Canadian and American medicament consumers (Coy, 2020). The author also analyzes the actions of Canadian and American department heads, which are microeconomic individuals within the drug import market (Coy, 2020). Along with these three essential points of microeconomic terminology, various specific price data and pharmacological policy analyses are given throughout the article.
Summary of the “Sunday Strategist” Article
The article discusses the economic effect of remedy imports from Canada to the US. The decision of US leadership to allow the import of cheap medical supplies from other countries caused a deficiency in the latter (Coy, 2020). Also, economic tension has arisen within the pharmacological corporations and to the American government (Coy, 2020). At present, North America’s pharmaceutical business is in an awkward position to reimburse drug shortages, meet government requirements, and successfully compete with foreign representatives. This situation is exceptionally favorable for American consumers, and new players in the drug market will help get rid of inefficient firms.
Conclusion
This paper examines the article for the presence of a microeconomic component. A resume and personal perspective were also presented. The major microeconomic indicators are the presence of a narrow market sphere, microeconomic individuals and their associations, assessment, and analysis of specific price and business policies. The author tells about the events of the pharmaceutical industry in North America and the emerging conflict within this economic area.
References
Chappelow, J. (2019). Microeconomics. Web.
Coy, P. (2020). Sunday strategist: What’s wrong with importing cheap drugs from Canada?Bloomberg BusinessWeek. Web.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.