At its simplest, biotechnology is technology based on biology - biotechnology harnesses cellular and biomolecular processes to develop technologies and products that help improve our lives and the health of our planet.
In macroeconomics, the focus is on the demand and supply of all goods and services produced by an economy. Accordingly, the demand for all individual goods and services is also combined and referred to as aggregate demand.
Subsequently, the term âKeynesian economicsâ was used to refer to the concept that optimal economic performance could be achieved â and economic slumps prevented â by influencing aggregate demand through activist stabilization and economic intervention policies by the government.