Nature. and scCope of busness economics
Unil 1- Introducion
The team Economics' ouwes its to tbe Greek
OIgin
Dikoncoroio wbich means bouschold
Tih gh cE Econonics. waS kooun polutical eLonom
The b0ok noMed into the natuTe Qnd couce
Iealth of NaioDs
inquy
(AA) usualls_ obbaeuiated as The
weatth SMITH is considexe d as
the fixst
by- ADAM
ModeoO woxk 0f ecoDomics
* Business economi
Econonic pOble m
mono eTialnomic
ecO
the problem making choice.
* Concept o
Is given by
TOEL DEAN.
fundamental facts in a5)
Human being have unlimited Wcnts:
The meanss1esOuHCes) to salisfy these unlimited want
Helatively SCaxce from the sublect maitey OE
economìcs
Econonics
Economnic
J
problems
ENDS MEANS
Unlimited G7aded Limited Alternative
DUmber priortised Uses
SCARTTY OF RESDURCES
,*
i)
Tuwo paztc
Economics
Mics0econQraics
u)lMacxoe conomics
Econonics
bas heen
Page No. 2
Date:
bxoadly dividednto two paziy
(I- individual level)
(A- Aggseaate lewal)
359
i) MicKOecOmics basically the ctudy ot the bebavic
diffzent individual and oxganizations within an
ecoDomic System
wbat
Consumex
we
Product Pricing
fatox pxising
The Cconomic
mainly
behavioux
cOnditions
Study in
of
MicsOeCOAomics.
a sectian of o penple
1113
V BehaviOux 0t eoDOmics.
vi Locatioo ot industzy
i) MacX0economics is the study ot tbe OveralL
economie phenonena wbole
3atheY thon its individual paxts
what we maialy study in Mocro economics.
National iocome and National put
The qeneral price Jevel iotenest ates.
i: Balance Txade and balance Qt pauments
iy Extexnal Value
The avexoll level ot saviogs and iouestment
vÌTbe level oE uAemplayment Cnd ate ot econoic
growth
Admioiste oed picei Siekex to phice deicrminsd a
aexteanal uthoxiy nhich enexnll gou
, Page No:3
Date:
The patuxe of Gusloess economics
Businecseronoicas aGclence
Science is o cysternaticbody koculedqe ohich
establighes CaUse opd eftect elationships
Busiess ecooDmics inteqxates the tOols.Of decision
sciencec such Mathe natics Gtotictics aod Fcoooa
cics -metaics uth Fconomic Theoxsstooxx0Ve at -
appxopaiate shategies. fox achieuin the goals of
+be business entexpatises.
followsscientiÇic. methds aDd enaperically tests
the validiky Of the
Business economics is Qn
As involves. prochicalopplication ot gules and
painciples fox the attainenent objectives
Based on Micao Fconomics -n
Business economics based laxely on Micxo economi
since it Is mastly conceIDEdwith decisioo
making- pzoblerns OE iodividual establishments
iy) Incoxpoxates elements Mocxo Analysis
bueiness uit does
I+ is atfecteo. by the extexnal envirOnment ot be
econamy in ohichopexateuch a genexol price
level income and employment levels in the eonomy
|and qovenment policies with espect to taxatica.
inteye Hates exchange 1ates induties picee
digtsibution ages and eulation o Mon0 paliek
Unil 1- Introducion
The team Economics' ouwes its to tbe Greek
OIgin
Dikoncoroio wbich means bouschold
Tih gh cE Econonics. waS kooun polutical eLonom
The b0ok noMed into the natuTe Qnd couce
Iealth of NaioDs
inquy
(AA) usualls_ obbaeuiated as The
weatth SMITH is considexe d as
the fixst
by- ADAM
ModeoO woxk 0f ecoDomics
* Business economi
Econonic pOble m
mono eTialnomic
ecO
the problem making choice.
* Concept o
Is given by
TOEL DEAN.
fundamental facts in a5)
Human being have unlimited Wcnts:
The meanss1esOuHCes) to salisfy these unlimited want
Helatively SCaxce from the sublect maitey OE
economìcs
Econonics
Economnic
J
problems
ENDS MEANS
Unlimited G7aded Limited Alternative
DUmber priortised Uses
SCARTTY OF RESDURCES
,*
i)
Tuwo paztc
Economics
Mics0econQraics
u)lMacxoe conomics
Econonics
bas heen
Page No. 2
Date:
bxoadly dividednto two paziy
(I- individual level)
(A- Aggseaate lewal)
359
i) MicKOecOmics basically the ctudy ot the bebavic
diffzent individual and oxganizations within an
ecoDomic System
wbat
Consumex
we
Product Pricing
fatox pxising
The Cconomic
mainly
behavioux
cOnditions
Study in
of
MicsOeCOAomics.
a sectian of o penple
1113
V BehaviOux 0t eoDOmics.
vi Locatioo ot industzy
i) MacX0economics is the study ot tbe OveralL
economie phenonena wbole
3atheY thon its individual paxts
what we maialy study in Mocro economics.
National iocome and National put
The qeneral price Jevel iotenest ates.
i: Balance Txade and balance Qt pauments
iy Extexnal Value
The avexoll level ot saviogs and iouestment
vÌTbe level oE uAemplayment Cnd ate ot econoic
growth
Admioiste oed picei Siekex to phice deicrminsd a
aexteanal uthoxiy nhich enexnll gou
, Page No:3
Date:
The patuxe of Gusloess economics
Businecseronoicas aGclence
Science is o cysternaticbody koculedqe ohich
establighes CaUse opd eftect elationships
Busiess ecooDmics inteqxates the tOols.Of decision
sciencec such Mathe natics Gtotictics aod Fcoooa
cics -metaics uth Fconomic Theoxsstooxx0Ve at -
appxopaiate shategies. fox achieuin the goals of
+be business entexpatises.
followsscientiÇic. methds aDd enaperically tests
the validiky Of the
Business economics is Qn
As involves. prochicalopplication ot gules and
painciples fox the attainenent objectives
Based on Micao Fconomics -n
Business economics based laxely on Micxo economi
since it Is mastly conceIDEdwith decisioo
making- pzoblerns OE iodividual establishments
iy) Incoxpoxates elements Mocxo Analysis
bueiness uit does
I+ is atfecteo. by the extexnal envirOnment ot be
econamy in ohichopexateuch a genexol price
level income and employment levels in the eonomy
|and qovenment policies with espect to taxatica.
inteye Hates exchange 1ates induties picee
digtsibution ages and eulation o Mon0 paliek
