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Business Economics: Gap Between Abstract Theory And Business Practice

1332 Words6 Pages

Assignment 1: -

m“Business economics which is the gap between abstract theory and business practice. It uses tools of economic analysis in classifying problems, in organizing and evaluating information and
In comparing alternative courses of action.” Outline the nature and scope of business economics in the light of this statement.

Assignment 2: -

oState the importance of price elasticity of demand to production managers, marketing managers, personnel managers and policy makers. Why business firms charge higher price for goods with low demand elasticity.

Assignment 3: -

Copyright © www.www.examrace.com Discuss the desirability if price discrimination. Suppose the average cost curve of producing a product lies everywhere above its demand curves. Is it possible for a monopolist to earn profits in such a situation?

Assignment 1: -

“Business economics which is the gap between abstract theory and business practice. It uses tools of economic analysis in classifying problems, in organizing and evaluating information and in comparing alternative courses of action.” Outline the nature and scope of business economics in the light of this statement. …show more content…

In actual practice different types of business are existing and run by people so study of Business Economics become very useful for businessmen. Since the emergence of economic reforms in Indian economy the whole economic scenario regarding the business is changed.Various new types of businesses are emerged, while taking the business decisions business men are using economic tools. Economic theories, economic principles, economic laws, equations economic concepts are used for decision making. On this ground students of commerce should know the importance of basic theories in actual business application. Hence the introduction of Business Economics becomes important to the

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