Intel Corporation and the Effects of the EconomyEconomics is defined as the social science that studies the production, distribution, and consumption of goods and services. It is primarily concerned with the exchange of value and the fact that human labor or effort is the source of all value. The field can be divided in other ways, most commonly microeconomics versus macroeconomics. Microeconomics examines the economic behavior of individual units, including businesses and households, and their interactions across markets, given scarcity and government regulation. Macroeconomics examines an economy as a whole "from the top down" with the goal of understanding interactions between broader aggregates such as national income and production, employment, and inflation, and broad aggregates such as total consumption and investment spending. Econometrics is the application of statistical techniques to measure economic phenomena. Scarcity suggests that all things in the world are in limited quantity. People therefore have to make choices. The concept of value is central to economics. The target value is the free market equilibrium price. Subjective value derives from individuals' preferences and therefore influences the behavior of economic agents. In microeconomic theory, supply and demand attempt to describe, explain, and predict the price and quantity of goods sold in perfectly competitive markets. It is one of the most fundamental economic models and is used as a building block in a wide range of more detailed economic models and theories. Price is the current exchange rate between buyers and sellers in a market. Price theory tracks the movement of measurable quantities over time and the relationship between price and other measurable variables. Porter's 5 Forces Analysis is a framework for business management developed by Michael Porter in 1979. It uses concepts developed in industrial organization economics to derive 5 forces that determine the attractiveness of a market. It is also known as FFF, or Fullerton's Five Forces. Porter referred to these forces as the microenvironment, to contrast it with the more general term macroenvironment. They consist of those forces close to a company that influence its ability to serve its customers and make profits. A change in any of the forces normally requires a company to reevaluate the market. The first force is called the bargaining power of customers, the second is the bargaining power of suppliers, the third is the threat of new entrants, the fourth is the threat of substitute products, all of which influence the fifth force, the level of competition in a sector.