What is business economics?
Explain its nature and scope in
detail.
Answers
Answer:
Objective:
The objective of this E- content is to let the students know about the concept, nature and scope of
Business Economics. It will also aware them about the central problems of an economy and distinction
between business Economics and Economics.
Definition:
Business economics is a field of applied economics that studies the financial, organizational, market-
related, and environmental issues faced by corporations. Economic theory and quantitative methods
form the basis of assessments on factors affecting corporations such as business organization,
management, expansion, and strategy. Studies might include how and why corporations expand, the
impact of entrepreneurs, the interactions among corporations, and the role of governments in
regulation.