Business Economics

Meaning of Business Economics

Business economics ​can be said as the integration of Economic Theory and Business Practices for the purpose of decision making and planning for the management. It means decision making on the basis of the use of tools of Economic Theories like demand, supply, price, competition etc. and determination of policies as defined in the business practices.

we will explain the following topics covered under business Economics: –

Cross Elasticity of Demand - Business Economics

Cross elasticity of demand-Explained with examples

Cross elasticity of demand is refers to the sensitivity of demand for one product to the price of another related product ...
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Income elastic Demand - Business Economics

Income elasticity of demand and explained its types

Income elasticity of demand (YED)refers to the ratio of the percentage of change in quantity demanded and percentage change in ...
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Price elasticity of Demand - Business Economics

Price Elasticity of Demand and explained its Types

Price elasticity of demand (PED) refers to the degree of responsiveness of quantity demanded with respect to change in the ...
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elasticity of Demand - Business Economics

Elasticity of demand – Meaning and its types

Elasticity of demand is an economic term that refers to the sensitivity of demand of a good to changes in other ...
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Exceptions to the Law of De 300x300 - Business Economics

Exceptions to the Law of Demand – Examples

Before Explaining the Exceptions to the Law of Demand, you have to know the meaning of demand and law of ...
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Law of Demand Feature Image 300x300 - Business Economics

Law of Demand – Explained with Example

Law of demand expresses the relationship between price and quantity demanded of a given commodity. It states that “ the ...
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Theory of Demand Feature Im 300x300 - Business Economics

Theory of demand – its graphical representation

Theory of Demand is the economic relationship between the quantity demanded of goods and services that consumers are able to ...
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Utility Feature Image  300x300 - Business Economics

Utility – Meaning, Definition and its types

The term Utility in economics refers to the satisfaction derived by a person from the consumption of any good or ...
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Meaning of Demand Definition and Determinants min 300x300 - Business Economics

Demand Meaning, Definition and Determinants

In economics, the demand for the commodity can be described as its quantity at which consumer is willing and able ...
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Scope of Business Economics min 300x300 - Business Economics

Scope of Business Economics – Explain with Examples

Business economics is applied microeconomics employed for the purpose of decision making and planning for an organisation. The scope of ...
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