Macroeconomics is: the study of individual choice and how that choice is influenced by economic forces. the study of aggregate economic relationships. the study of the pricing policies of firms and the purchasing decisions of households. an analysis of economic reality that proceeds from the parts to the whole.

The study of how human beings COORDINATE their WANTS and DESIRES, given the decision making mechanisms, social customs, and political realities of the society

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1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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