Lesson: Introduction to Market Influences on Business

In this lesson, dive into the intriguing world of economics with Nick Palazzolo, CPA, who breaks down the fundamental differences between microeconomics and macroeconomics. Discover how both disciplines impact the decision-making of managers, business owners, CFOs, and controllers. Nick explains how larger economic trends influence entire industries while smaller market shifts can affect individual businesses or products. He simplifies the concepts of aggregate supply and demand in macroeconomics versus the supply and demand for single items in microeconomics. This introduction ensures a solid understanding of how economic elements translate into real-world business scenarios.