Business Economics Presentation

Business Economics

economic problem of scarcity and
demand resource allocation
 Scarcity is the term which means limited quantity of sources available in
the economy.
 It is necessary to assure efficient resource allocation so that optimum
use of scare resources will helps to accomplish greater level of
consumer demand
 Natural resources such as land, oil, coal, natural gases, water etc. are
available in limited quantity which results in arising scarcity problem in
the economy

Importance of different market system
 Perfect competition
 Monopoly
 Oligopoly