III. “The supply of housing facility for Mr. Rick” Explain your answer for the following statements...

III. “The supply of housing facility for Mr. Rick” Explain your answer for the following statements whether they are Macroeconomics or Microeconomics and why?

IV. “The Omanisation Process is also the focal point in Vision 2040” Explain your answer for the following statements whether they are Macroeconomics or Microeconomics and why?

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Expert Solution

(III) The supply of housing facility for Mr. Rick is a micro economics as Microeconomic study deals with what choices people make, what factors influence their choices and how their decisions affect the goods markets by affecting the price, the supply and demand. It analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses.

(IV) The Omanisation Process which is also the focal point in Vision 2040 is a part of macroeconomics. Macro economics deals with economy as a whole issues such as total output, total employment, economic growth and general price level. subject matter of macro economics include theory of national income, theory of economic growth, theory of international trade, theory of money. Omanisation is ambitious plan toward a more sustainable and diversified economy by using oil revenues to boost investments in health, education, and social services, better train citizens, and raise living standards across the board. Expected to have 5 million foreign workers by 2020 and 8 million by 2040, the government hopes to shave 10% off the expat labor force by 2040.

Rahul Sunny answered 1 year ago

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