Introduction to Economics: Measures of Economic Activity, Economic Policies, and China's Economy

Introduction to
Economics

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
Explain the different measures of economic activity, particularly of how a nation’s income and cost of
living are measured.................................................................................................................................3
Relate the elements of the theory to every day actual events and explain how economic policies
intend to tackle potential problems........................................................................................................5
Explain a given topic in both macroeconomics by using a clear and concise argument, based on logic
and the underlying theory.......................................................................................................................6
Collect and present economic data in the process of assessing a country’s economic performance......7
CONCLUSION...............................................................................................................................................8
REFERENCES..............................................................................................................................................10

INTRODUCTION
Managerial economics is a branch of development studies that focuses on using the
theoretical concepts of microeconomic theory to solve business issues and make decisions. It's a
specialist field that uses multiple economic theories to handle with a company's inner difficulties.
Any firm must have a strong economic component. This singular notion serves as the foundation
for all organizational expectations, forecasts, and expenditures. In an essence, it is the definition
of management economics. COVID-19, an illness produced by the new corona virus SARS-
CoV-2, has had a significant impact on global money system, governments, and communities
(Cabrera and Fricke, 2021). The effects of COVID-19 on the Chinese economy, China's national
policies to this surprise, such like fiscal, macroeconomic, and organizational initiatives, and
considerations like the structure, benefits, and consequences of China's policy actions are all
examined in this research. This research also looks towards issues that would need to be given
more attention. This study provides relevant and essential recommendations to politicians and
businessmen throughout the world, given the significance of China in the world in terms of its
economic, impact on global development, and full - length boost.
MAIN BODY
Explain the different measures of economic activity, particularly of how a nation’s income and
cost of living are measured
The PMI is often used to gauge economic development in different businesses, using a 50
percent development and contract border. A score of more than 50% suggests that the economy
is booming; a score with less than 50% suggests that the economy is declining; a score with less
than 40% implies that the growth is in a depressed state; a score of mildly more than 50%
demonstrates that the world is gradually shifting forward; a score of fractionally less than 50%
implies that the growth is gradually creeping against downturn; a score of mildly more than 50%
implies that the growth is gradually creeping forward into downturn; and a score of a little just
under 50% implies that the financial system is The overall PMI production index for February
2020 was 28.9%, down 24.1 percent from January, according to the National Bureau of Statistics
(Małecka, 2021).