Question

meanig of business economics​

Answer 1

Answer:

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. Economics focuses on the actions of human beings, based on assumptions that humans act with rational behavior, seeking the most optimal level of benefit or utility. The building blocks of economics are the studies of labor and trade. Since there are many possible applications of human labor and many different ways to acquire resources, it is the task of economics to determine which methods yield the best results.

Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses.

Answer 2

Answer:

Meaning of Business Economics

To understand the meaning of business economics we can think of Business Economics as the integration of two major concepts: Economic Theory + Business Practices. It helps in making the best decision based on the analytical tools of Economic Theory and best-suited Business Policies defined within Business Practices.

Explanation:

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