Scope of Business Economics



Business Economics is useful in decision making by business firms regarding the least cost input mix, product mix, production technique, level of output, price for the product, investment decisions, amount of advertising out lay etc. It involves, tools, techniques, principles and theories by business firms for decision making and forward planning by establishing plans for the future.

“Business Economics consists of the use of economics modes of thought to analyse business situations.” It is applied economics to solve decision problems at the firm level.

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Contribution and Application of Business Economics to Business

Contribution and Application of Business Economics to Business Business Economics is useful in decision making ...

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