what are main features of economic
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Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a
Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as aExplanation:
Micro in Nature:
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.2. Basis of Theory of Markets and Private Enterprises:
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.2. Basis of Theory of Markets and Private Enterprises:Business economics largely uses the theory of markets and private enterprise. It uses the theory of the firm and resource allocation of private enterprise economy.
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.2. Basis of Theory of Markets and Private Enterprises:Business economics largely uses the theory of markets and private enterprise. It uses the theory of the firm and resource allocation of private enterprise economy.3. Pragmatic in Approach:
Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.2. Basis of Theory of Markets and Private Enterprises:Business economics largely uses the theory of markets and private enterprise. It uses the theory of the firm and resource allocation of private enterprise economy.3. Pragmatic in Approach:Business economics is pragmatic in its approach. It does not involve itself with the theoretical controversies of economics. Yet it does not relegate the realities of business decision-making to the background by bringing in abstract assumptions. While economic theory abstracts from realities of the individual business units to build up its theories, managerial economics takes proper note of the particular economic environment in which a firm works.
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