Describe the influence of basic microeconomic and macroeconomic concepts on business decisions.

Description should include the roles in microeconomics and macroeconomics of the following concepts:

• Supply and demand determinants
• Leading economic indicators and trends (e.g., gross domestic product [GDP], inflation, unemployment)
• Business cycle
• Circular flow of economic activity (e.g., discretionary, disposable income as it relates to business and consumer decision-making)