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Home » Economics Homework Help » Business Economics Help
Business Economics Help
The part of economic theory which interprets on various business enterprises and inquires them all into the various factors contributing to the diversity of organizational structures and to the relationships of firms with labour, capital and product markets is known as Business Economics. Business economics is defined as the study of how businesses manage scarce resources. Microeconomics is the study of the decisions of individuals, households, and businesses in specific markets, whereas macroeconomics is the study of the overall functioning of an economy such as basic economic growth, unemployment, or inflation. Scarcity in microeconomics is not the same as poverty. It arises from the assumption of very large (or infinite) wants or desires, and the fact that resources to obtain goods and services are limited.  It concern with economic issues and problems related to business organizations, management and strategy, these issues and problems are concerned as: an explanation of why firms emerge and exist; why they expand their production capability; horizontally, vertically and specially these all have a greater impact on the role of entrepreneurs and entrepreneurship; the significance of organizational structure; the relationship of firms with employees, the employees, the providers of capital, the customers, the government; the interactions between firms and the business environment and many more, which described further in the topics.

Now, let us have a look on what means the term Business Economics, and from where it is derived and its uses. The term Business Economics is used in a variety of ways. Sometimes it is used as synonymously with - Industrial Economics - Industrial Organisation - Managerial Economics - Economics for Business. Industrial Economics is the mostly closely over-lapping of these terms whilst there may be more substantial differences with Economics for Business and Managerial Economics. One view of the distinctions between these would be that Business Economics is wider in its scope than Industrial Economics in that it would be concerned not only with "Industry" but also businesses in the service sector and that it also takes seriously the insights of the "business strategy" literature. Economics for business looks at the major principles of economics but focuses on applying these economic principles to the real world of business. Managerial economics is the application of economic methods in the managerial decision-making process.

Some of its Main Topics are:

1. Demand
2. Equilibrium-of-firm
3.  Interest
4.  Isoquants product curve
5. Labour-and-capital
6. Laws-of-economics
7. Laws-of-production
8. Market and oligopoly

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Topics
Demand Capital Characteristics Cross Demand Price Elasticity Factors Income Demand Demand Income Elasticity Demand Demand Price Elasticity Total Outlay Method Inductive Deductive Method Demand Supply Interaction Firm Equilibrium Increasing Utility Methods Monopoly Monopolistic Competition Demand For Capital Gross Net Interest Firm Perfect Competition Cost Theory Concepts Interest Isoquent Product Curve Land Importance Marginal Rate Substitution Producers Equilibrium Loanable Funds Supply Demographic Transition Capital Labour Characteristics Labour Division Labour Types Labour And Capital Economic Laws Characteristics Deductive Method Inductive Method Economic Laws Macroeconomic Analysis Microeconomic Analysis Economics Scope Large Scale Benefits Douglas Production Function Production Volume Factors Production Laws Large Scale Laws Production Function Production Significance Oligopoly Emergence Causes Oligopoly Classification Market Size Market And Oligopoly Market Monopoly Control Dumping Monopoly Monopolistic Competition Revenue Cost Nature Price Discrimination Competitive Market Long Period Price Short Period Price Perfect Competition Capitalism Problems Price Mechanism Price Mechanism Limitations Demand Principle Socialist Economy Problems Profit Dynamic Theory Profit Profit Uncertainty Profit Risk Theory Profit Theory Rent Kinds Rent Rent Modern Theory Quasi Rent Rent Ricardian Theory Situational Rent Demand Price Elasticity Factor Pricing Demand Affecting Factors Returns To Scale Isoquent Curves Production Factor Supply Land Productivity Factors Land Importance Labour Production Scale Land Characteristics Internal Economies Types Average Fixed Cost Average Variable Cost Gross Profit Constituents Theory Of Costs Long Run Marginal Cost
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