Business economics explained
What is Business Economics explain its meaning and scope?
Ans: Business Economics is the study of all the factors which affect the working, management, and prosperity of a business or firm.
The scope of Business Economics is large as it deals with both internal factors within the business as well as factors that are beyond the business owner's control..
What is Business Economics explain its scope?
Ans: Business Economics is the study of all the factors which affect the working, management, and prosperity of a business or firm.
The scope of Business Economics is large as it deals with both internal factors within the business as well as factors that are beyond the business owner's control..
- “Business Economics (Business Economics) is the integration of economic theory with. business practice for the purpose of facilitating decision making and forward planning by. management.” - Spencerand Seegelman. “Business economics is concerned with application of economic concepts and economic.
×Business economics is a field of applied economics that uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets. It assesses certain factors impacting corporations, such as business organization, management, expansion, and strategy. Business economics is considered both an art and science, and it is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.
