Business Economics: Analysis of Business Environment, Economic Problems, and Firm Behavior

Business Economics
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Business environment and economics.........................................................................................3
Economic problems.....................................................................................................................3
Firm behavior and decision making............................................................................................4
PART 2............................................................................................................................................5
Economic system.........................................................................................................................5
Demand and its factors................................................................................................................5
Supply and its factors...................................................................................................................6
Equilibrium price.........................................................................................................................7
Types of Market structure............................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Business economics is one of the most important parameter for gaining efficiency on
productive levels within company framework with analyzing business demands, regulating
customer preferences for establishing chain of supply. The report explains business environment
and fundamental economic problems and factors of production of companies with which overall
productivity is established among competitors. Report explains demand factors, change in
quantity demanded and supply factors along with elasticity of demand and the vivid impact of
market structure. Report explains production decision based on various factors among companies
in industry where customers expectations play an important role to define the growth of market.
PART 1
Business environment and economics
Economics and business environment can be understood as one wide topic on which
various tools and fundamental expansion into various sectors of industry is established.
Economist explains economics as the detail study of demand, supply factors and the various
factor which regulate market expansion and diversification of product range among consumers
market share. Business environment as per economist can be understood as the high synergy
growth of competitive values among companies through which regulation of products , services
is established. Research has explained global business environment have huge role to play in
encouraging sales and demographical expansion into international horizons and decision making.
Economics facilitate marketers and company managers to research on various paradigms,
program new avenues of development and train new product services among employees to serve
customers effectively (Loureiro and Silva, 2019).
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