27. .............is economic theory used in
business whereas ..........is economics
theory used in business and non
business organization
Answers
Answer:
Business economics is a field of applied economics that studies the financial, organizational, market-related, and environmental issues faced by corporations. Business economics encompasses subjects such as the concept of scarcity, product factors, distribution, and consumption.
Answer:
Business economics is economic theory used in business whereas managerial economics is economics theory used in business and non business organization.
Explanation:
Business economics is a field of applied economics that studies the financial, organizational, market-related, and environmental issues faced by corporations. Business economics consists of subjects such as the concept of scarcity, product factors, distribution, and consumption. Managerial economics is one important offshoot of business economics.
Managerial economics is a stream of management studies which emphasises solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics. It is a specialised stream dealing with the organisation’s internal issues by using various economic theories.
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