Significant of business eco
•Download as PPTX, PDF•
0 likes•7 views
Business economics helps understand economic behavior and incorporates ideas from other disciplines. It covers important concepts like demand and supply, costs, and utility that support managers in analyzing problems and solutions. Business economics also helps frame policies and assess the economy, while inculcating ethical norms and sharpening intellectual abilities.
Report
Share
Report
Share
Recommended
intro-tobusinesseconomics
Microeconomics is the study of economic decision-making by individuals and firms within markets. It focuses on demand and supply, consumption and production decisions at the individual level. Microeconomics helps explain resource allocation, pricing of goods and factors of production, and conditions for economic efficiency in consumption, production and distribution. While it provides insights into free market economies, microeconomics has limitations such as assuming full employment and ignoring changes to other variables.
Intro. to business economics
Business economics deals with the application of economic theories and principles to solve business problems and aid management decision making. It involves using economic methodology to analyze issues like demand forecasting, cost analysis, profit analysis, and capital management at the level of individual firms. The study of business economics has both theoretical and practical significance. It helps understand economic behavior, assess economic performance, aid in economic planning and policymaking, and solve problems faced by various groups like businessmen, bankers, and policymakers. Overall, business economics integrates economic theory with business practice to facilitate optimal business decision making and planning.
Business economics
This document provides an overview of business economics. It defines business economics as the integration of economic theory with business practice to facilitate decision making and planning by management. The document discusses how business economics meets the needs of businesses by applying economic theory and methodology to solve business problems and reach optimal solutions. It also outlines some key characteristics and topics in business economics, such as its microeconomic nature, use of economic theories, and focus on real business conditions. Finally, the document discusses the importance and practical significance of business economics for various roles like finance ministers, planners, bankers, and trade union leaders.
Questionanswers 100202064114-phpapp02
Managerial economics deals with applying economic theory and techniques to business management problems to help managers make optimal decisions. It uses tools from microeconomics, macroeconomics, mathematics, statistics, and econometrics. Managerial economics is both a positive and normative science, describing economic phenomena and relationships as well as prescribing optimal solutions to business problems based on economic principles and analysis. The three fundamental concepts of managerial economics are pricing, distribution, and welfare.
Economics q & a ns
We at Online Assignment, embark upon providing high quality online education to our students who are spread all across the globe. Our endeavour is to help you realize your full potential by mentoring and guiding you through the process of doing your assignment.
We empower the academic knowledge and strength of the students and professionals by providing all possible academic assistance such as assignments help, homework help, project and research help, writing help in all the areas of studies broadly covered under Commerce, Arts, Science and Computers.
Homework Help | Assignment Help | Project Help | Online Tutoring | Math Help | Programming Help |
Visit : www.onlineassignment.net
Economics explained why you should study it and your career prospects.pdf
We are one of the best M.Com coaching institute in delhi.
We offers classes for m.com entrance exam of Delhi University (DU) and other colleges.
Managerial_Economics (3).pdf
This document provides an introduction to the study guide for Managerial Economics for the 1st semester B.Com/BBA program at the University of Calicut School of Distance Education. It covers the following key points:
1. It defines economics and traces its development as a social science. It discusses various definitions of economics including wealth, welfare, scarcity, and growth definitions.
2. It defines managerial economics as the application of economic theory and techniques to managerial decision-making. It discusses the objectives and importance of managerial economics in assisting managers.
3. It outlines the scope of managerial economics, covering its analysis of both internal operational issues within firms as well as external environmental issues. It
Economics managerial-skills
This document outlines the objectives and content of a course on managerial economics. It introduces economic concepts and their importance for managerial decision making. The 5 units of the course cover general foundations, costs and production, market structures, national income and macroeconomics, and the macroeconomic environment. Unit 1 discusses the economic approach, circular flow of activity, objectives of firms, demand analysis, and demand forecasting. It defines managerial economics as the application of micro and macroeconomic principles to optimize business decision making under uncertainty.
Recommended
intro-tobusinesseconomics
Microeconomics is the study of economic decision-making by individuals and firms within markets. It focuses on demand and supply, consumption and production decisions at the individual level. Microeconomics helps explain resource allocation, pricing of goods and factors of production, and conditions for economic efficiency in consumption, production and distribution. While it provides insights into free market economies, microeconomics has limitations such as assuming full employment and ignoring changes to other variables.
Intro. to business economics
Business economics deals with the application of economic theories and principles to solve business problems and aid management decision making. It involves using economic methodology to analyze issues like demand forecasting, cost analysis, profit analysis, and capital management at the level of individual firms. The study of business economics has both theoretical and practical significance. It helps understand economic behavior, assess economic performance, aid in economic planning and policymaking, and solve problems faced by various groups like businessmen, bankers, and policymakers. Overall, business economics integrates economic theory with business practice to facilitate optimal business decision making and planning.
Business economics
This document provides an overview of business economics. It defines business economics as the integration of economic theory with business practice to facilitate decision making and planning by management. The document discusses how business economics meets the needs of businesses by applying economic theory and methodology to solve business problems and reach optimal solutions. It also outlines some key characteristics and topics in business economics, such as its microeconomic nature, use of economic theories, and focus on real business conditions. Finally, the document discusses the importance and practical significance of business economics for various roles like finance ministers, planners, bankers, and trade union leaders.
Questionanswers 100202064114-phpapp02
Managerial economics deals with applying economic theory and techniques to business management problems to help managers make optimal decisions. It uses tools from microeconomics, macroeconomics, mathematics, statistics, and econometrics. Managerial economics is both a positive and normative science, describing economic phenomena and relationships as well as prescribing optimal solutions to business problems based on economic principles and analysis. The three fundamental concepts of managerial economics are pricing, distribution, and welfare.
Economics q & a ns
We at Online Assignment, embark upon providing high quality online education to our students who are spread all across the globe. Our endeavour is to help you realize your full potential by mentoring and guiding you through the process of doing your assignment.
We empower the academic knowledge and strength of the students and professionals by providing all possible academic assistance such as assignments help, homework help, project and research help, writing help in all the areas of studies broadly covered under Commerce, Arts, Science and Computers.
Homework Help | Assignment Help | Project Help | Online Tutoring | Math Help | Programming Help |
Visit : www.onlineassignment.net
Economics explained why you should study it and your career prospects.pdf
We are one of the best M.Com coaching institute in delhi.
We offers classes for m.com entrance exam of Delhi University (DU) and other colleges.
Managerial_Economics (3).pdf
This document provides an introduction to the study guide for Managerial Economics for the 1st semester B.Com/BBA program at the University of Calicut School of Distance Education. It covers the following key points:
1. It defines economics and traces its development as a social science. It discusses various definitions of economics including wealth, welfare, scarcity, and growth definitions.
2. It defines managerial economics as the application of economic theory and techniques to managerial decision-making. It discusses the objectives and importance of managerial economics in assisting managers.
3. It outlines the scope of managerial economics, covering its analysis of both internal operational issues within firms as well as external environmental issues. It
Economics managerial-skills
This document outlines the objectives and content of a course on managerial economics. It introduces economic concepts and their importance for managerial decision making. The 5 units of the course cover general foundations, costs and production, market structures, national income and macroeconomics, and the macroeconomic environment. Unit 1 discusses the economic approach, circular flow of activity, objectives of firms, demand analysis, and demand forecasting. It defines managerial economics as the application of micro and macroeconomic principles to optimize business decision making under uncertainty.
1 introduction to managerial economics
This document provides an introduction to managerial economics. It defines economics as the study of human economic activity and wealth. It discusses microeconomics as the study of individual consumers and firms, and macroeconomics as the study of aggregate economic activity in a country. Managerial economics bridges traditional economics theory and real business practices by providing tools to help managers make competent decisions. It operates within the constraints of macroeconomic conditions and suggests prescriptive actions to optimally solve problems given a firm's objectives. The scope of managerial economics includes decisions around product selection, production methods, pricing, promotion, and location from an operational and environmental perspective.
Managerial_Economics (9).pdf
This document outlines the objectives and units of an MBA course on Managerial Economics. It covers key economic concepts applied to managerial decision making like demand analysis, costs, market structures, and macroeconomic factors. The 5 units include general foundations, production and costs, market determination under different structures, national income concepts, and the macroeconomic environment. Managerial economics integrates micro and macroeconomic theories to help managers make optimal decisions by analyzing business problems and tradeoffs in an environment of scarce resources.
The fundamentals of managerial economics
Managerial economics deals with applying microeconomic principles to managerial decision-making. It helps managers optimize decisions by analyzing costs, profits, demand, and resource allocation. The document discusses how managerial economics uses both positive and normative approaches, drawing on micro and macroeconomics. It also examines how managerial economics relates to other disciplines and helps managers make well-informed choices under uncertainty.
The fundamentals of managerial economics
Economics is the study of how individuals and societies choose to use the scarce resources that nature and the previous generation have provided. The world‟s resources are limited and scarce. The resources which are not scarce are called free goods. Resources which are scarce are called economic goods.
Introduction To Managerial Economic
Premier University
[B.B.A]
Course Teacher: Assistant Professor. Anupam Das
University of Chittagong
Course Title: Managerial Economic
Presentation Subject: Introduction to Managerial Economic
Semester: 7th Section: “A” Batch :22nd
Group Name: D’14
E-mail : mdsaimonchy@yahoo.com
Business Economics
This document discusses fundamentals of business economics. It explains that business economics uses economic tools and theories to help businessmen make decisions. It also discusses key principles of business economics like incremental concept, opportunity cost concept, and risk and uncertainty. The document outlines the scope of business economics, including demand analysis, cost and production analysis, and pricing decisions. It explains that business economics is important as it enables managers to select suitable tools from economics to make better business decisions. However, it also notes some limitations of business economics like predictions being unpredictable and non-replicable.
Managerial Economics Tutorial.pdf
This document provides an introduction to managerial economics. It defines managerial economics as the application of economic theory and tools of analysis to business decision making. The objectives of managerial economics are to help managers with problems like demand forecasting, pricing, production analysis, and resource allocation. It bridges economic theory and real-world business practices.
The document outlines the scope of managerial economics, which includes analyzing both internal operational issues like costs, profits, and pricing, as well as external environmental factors. It also discusses the functions and responsibilities of managerial economists in assisting management with decision making and planning. Key tools discussed are demand analysis, cost analysis, pricing decisions, and capital budgeting. Overall, the summary provides a high
Introduction-to-Managerial-Economics.pdf
1) Managerial economics refers to applying economic theory to managerial decision making in businesses. It informs decisions related to production, pricing, investment, and other areas.
2) Managerial economics draws on microeconomics but also considers macroeconomic factors. It makes normative and prescriptive recommendations to help managers optimize outcomes.
3) Key applications of managerial economics include demand analysis, pricing strategies, production and cost analysis, resource allocation, and investment analysis. These areas help managers maximize profits within the economic environment.
SU Ch4 M.Sc Acfn551 FMI 2022.pptx
This document provides an overview of various topics related to financial markets and institutions. It defines key terms like finance, financial markets, financial services, commercial banking services, and the different types of financial markets. It describes the functions and importance of financial markets in facilitating the transfer of resources, determining security prices, making assets liquid, and lowering transaction costs. It also outlines the primary, secondary and money markets as well as the equity, debt and commodity markets.
Economics for business
The document discusses several key concepts from economic theory and how they can be applied in a business context. It explains the opportunity cost principle, incremental principle, time perspective concept, discounting concept, and equi-marginal utility principle. These concepts help business economists make better management decisions regarding resource allocation, economic forecasting, and evaluating alternatives based on costs and benefits over different time periods. Understanding economic theories allows business analysts to apply analytical frameworks to challenges faced by organizations.
Importance of business economics
Business economics is a branch of microeconomics that bridges the gap between pure economic theory and business practices. It uses economic theories, mathematics, and decision-making sciences to help businesses make optimal decisions around areas like demand analysis, cost analysis, profit analysis, capital management, production analysis, price determination, and objectives. While traditional economics covers both micro and macro perspectives, business economics focuses narrowly on analyzing economic activities from the perspective of the firm.
BE Unit-1 Part-1 (Nature, Scope & Objectives).pdf
This document provides an overview of key topics in business economics, including:
1. The meaning and scope of business economics, including microeconomics and macroeconomics applications.
2. The objectives of business firms, moving from the traditional view of profit maximization to modern theories recognizing the separation of ownership and management. Objectives include utility maximization, revenue/sales maximization, and satisficing.
3. The time dimension of objectives, with short-run profit maximization differing from long-run goals of ensuring sustainability.
In under 3 sentences, this document introduces the core areas covered in business economics and discusses the evolution of theories around the objectives of business firms from a traditional profit maximization view
Mba managerial economics-1styear
This document provides an overview of a Managerial Economics course syllabus. It includes 5 units that will be covered: general foundations of managerial economics, laws of production and costs, product markets under different structures, national income concepts and business cycles, and the macroeconomic environment. The objectives are to introduce economic concepts, familiarize students with using economics in managerial decision making, and understand applications of theories to business decisions. Key topics covered include demand analysis, production functions, costs, market structures, pricing, national income, technology, business cycles, and fiscal/monetary policies.
Managerial economics
This document provides an overview of a Managerial Economics course syllabus. It includes 5 units that will be covered: general foundations of managerial economics, law of variable proportions and cost functions, product markets under different structures, national income concepts and business cycles, and macroeconomic environment. The objectives are to introduce economic concepts, familiarize students with using economics in managerial decision making, and understand applications of theories to business decisions. Key topics covered include demand analysis, elasticity, costs, market structures, fiscal and monetary policies, and India's economic transition. The syllabus aims to equip students with tools and insights for furthering organizational goals through economic analysis and decision making.
Managerial economics introduction
Managerial economics applies economic theories and tools of analysis to help managers make informed business decisions. It involves using concepts like demand analysis, production planning, cost analysis, and pricing to optimize profits. The managerial economist is responsible for forecasting demand, minimizing risks and uncertainties, and advising management on issues like capital investment, pricing, and production planning to maximize business gains. Managerial economics bridges the gap between economic theory and business management practice. It draws from other disciplines like statistics and uses economic models and analysis to solve practical business problems.
Term paper
The document is a term paper on managerial economics submitted by a student to their professor. It provides definitions and discusses the history, scope, nature, and role of managerial economics. It also examines the differences between economic theory and managerial theory. In under 3 sentences: The document is a term paper that defines and discusses managerial economics, tracing its history and examining its scope, nature, and role in business decision making and development from a theoretical perspective. It was submitted by a student to their professor for a course on managerial economics.
Managerial Economics & Financial Analysis(MEFA)_e Notes_Part-1
This document provides an overview and introduction to managerial economics. It discusses key topics including:
- The definition and scope of managerial economics, including how it draws from both economics and management.
- The relationship between managerial economics and other disciplines like microeconomics, macroeconomics, mathematics, statistics, and operations research.
- An introduction to demand analysis, including the factors that influence demand like price, income, tastes, number of consumers, and expectations about future prices.
- The document serves to outline the basic concepts and areas of application of managerial economics for managers.
Managerial_Economics_NMBA_012.docx
Managerial Economics (NMBA 012) discusses key definitions in economics. It defines economics as dealing with the allocation of scarce resources to fulfill society's needs and wants. Economics can be defined from wealth, welfare, and scarcity perspectives. Managerial economics applies economic principles and analysis to business decision making. It differs from economics by focusing on micro issues within firms and helping management make optimal decisions. Economics has both positive and normative aspects and uses both scientific and artistic approaches. It has branches of microeconomics and macroeconomics.
Sy bcom Business_Economics_ppt_chap_1.pptx
This document discusses the key concepts of economics, business economics, microeconomics, and macroeconomics. It defines economics as dealing with how people earn and spend income, and addresses economic problems related to unlimited wants and limited resources. Business economics applies economic principles to business problems and decision-making. Microeconomics studies individual economic units, while macroeconomics looks at aggregate economic behavior. The roles of business economists include identifying problems, conducting research, and advising firms on decision-making and planning.
Chapter 1 presentation
This document provides an overview of key concepts in economics. It defines economics as concerned with efficient use of scarce resources to satisfy unlimited human wants. It describes the economic perspective as focused on scarcity, rational behavior, and marginal analysis of costs and benefits. It explains that economics uses the scientific method and theoretical and policy approaches. It distinguishes between microeconomics which examines specific units, and macroeconomics which examines the economy as a whole. The document also covers positive versus normative economics and potential pitfalls to objective economic thinking.
Rank correlation problem
The document provides statistical calculations for a data set with 6 samples. It lists the sums of x, y, xy, x^2 and y^2 as well as the result of dividing 2868 by 5413.27 which equals 0.529809.
Linear regression
Regression analysis determines the average relationship between variables, with one variable (independent) being used to predict another (dependent). For example, the amount of rain (independent) can be used to predict agricultural output (dependent, positive relationship), while price (independent) inversely impacts demand (dependent, negative relationship). Regression equations can be calculated from data to model these relationships between independent and dependent variables.
More Related Content
Similar to Significant of business eco
1 introduction to managerial economics
This document provides an introduction to managerial economics. It defines economics as the study of human economic activity and wealth. It discusses microeconomics as the study of individual consumers and firms, and macroeconomics as the study of aggregate economic activity in a country. Managerial economics bridges traditional economics theory and real business practices by providing tools to help managers make competent decisions. It operates within the constraints of macroeconomic conditions and suggests prescriptive actions to optimally solve problems given a firm's objectives. The scope of managerial economics includes decisions around product selection, production methods, pricing, promotion, and location from an operational and environmental perspective.
Managerial_Economics (9).pdf
This document outlines the objectives and units of an MBA course on Managerial Economics. It covers key economic concepts applied to managerial decision making like demand analysis, costs, market structures, and macroeconomic factors. The 5 units include general foundations, production and costs, market determination under different structures, national income concepts, and the macroeconomic environment. Managerial economics integrates micro and macroeconomic theories to help managers make optimal decisions by analyzing business problems and tradeoffs in an environment of scarce resources.
The fundamentals of managerial economics
Managerial economics deals with applying microeconomic principles to managerial decision-making. It helps managers optimize decisions by analyzing costs, profits, demand, and resource allocation. The document discusses how managerial economics uses both positive and normative approaches, drawing on micro and macroeconomics. It also examines how managerial economics relates to other disciplines and helps managers make well-informed choices under uncertainty.
The fundamentals of managerial economics
Economics is the study of how individuals and societies choose to use the scarce resources that nature and the previous generation have provided. The world‟s resources are limited and scarce. The resources which are not scarce are called free goods. Resources which are scarce are called economic goods.
Introduction To Managerial Economic
Premier University
[B.B.A]
Course Teacher: Assistant Professor. Anupam Das
University of Chittagong
Course Title: Managerial Economic
Presentation Subject: Introduction to Managerial Economic
Semester: 7th Section: “A” Batch :22nd
Group Name: D’14
E-mail : mdsaimonchy@yahoo.com
Business Economics
This document discusses fundamentals of business economics. It explains that business economics uses economic tools and theories to help businessmen make decisions. It also discusses key principles of business economics like incremental concept, opportunity cost concept, and risk and uncertainty. The document outlines the scope of business economics, including demand analysis, cost and production analysis, and pricing decisions. It explains that business economics is important as it enables managers to select suitable tools from economics to make better business decisions. However, it also notes some limitations of business economics like predictions being unpredictable and non-replicable.
Managerial Economics Tutorial.pdf
This document provides an introduction to managerial economics. It defines managerial economics as the application of economic theory and tools of analysis to business decision making. The objectives of managerial economics are to help managers with problems like demand forecasting, pricing, production analysis, and resource allocation. It bridges economic theory and real-world business practices.
The document outlines the scope of managerial economics, which includes analyzing both internal operational issues like costs, profits, and pricing, as well as external environmental factors. It also discusses the functions and responsibilities of managerial economists in assisting management with decision making and planning. Key tools discussed are demand analysis, cost analysis, pricing decisions, and capital budgeting. Overall, the summary provides a high
Introduction-to-Managerial-Economics.pdf
1) Managerial economics refers to applying economic theory to managerial decision making in businesses. It informs decisions related to production, pricing, investment, and other areas.
2) Managerial economics draws on microeconomics but also considers macroeconomic factors. It makes normative and prescriptive recommendations to help managers optimize outcomes.
3) Key applications of managerial economics include demand analysis, pricing strategies, production and cost analysis, resource allocation, and investment analysis. These areas help managers maximize profits within the economic environment.
SU Ch4 M.Sc Acfn551 FMI 2022.pptx
This document provides an overview of various topics related to financial markets and institutions. It defines key terms like finance, financial markets, financial services, commercial banking services, and the different types of financial markets. It describes the functions and importance of financial markets in facilitating the transfer of resources, determining security prices, making assets liquid, and lowering transaction costs. It also outlines the primary, secondary and money markets as well as the equity, debt and commodity markets.
Economics for business
The document discusses several key concepts from economic theory and how they can be applied in a business context. It explains the opportunity cost principle, incremental principle, time perspective concept, discounting concept, and equi-marginal utility principle. These concepts help business economists make better management decisions regarding resource allocation, economic forecasting, and evaluating alternatives based on costs and benefits over different time periods. Understanding economic theories allows business analysts to apply analytical frameworks to challenges faced by organizations.
Importance of business economics
Business economics is a branch of microeconomics that bridges the gap between pure economic theory and business practices. It uses economic theories, mathematics, and decision-making sciences to help businesses make optimal decisions around areas like demand analysis, cost analysis, profit analysis, capital management, production analysis, price determination, and objectives. While traditional economics covers both micro and macro perspectives, business economics focuses narrowly on analyzing economic activities from the perspective of the firm.
BE Unit-1 Part-1 (Nature, Scope & Objectives).pdf
This document provides an overview of key topics in business economics, including:
1. The meaning and scope of business economics, including microeconomics and macroeconomics applications.
2. The objectives of business firms, moving from the traditional view of profit maximization to modern theories recognizing the separation of ownership and management. Objectives include utility maximization, revenue/sales maximization, and satisficing.
3. The time dimension of objectives, with short-run profit maximization differing from long-run goals of ensuring sustainability.
In under 3 sentences, this document introduces the core areas covered in business economics and discusses the evolution of theories around the objectives of business firms from a traditional profit maximization view
Mba managerial economics-1styear
This document provides an overview of a Managerial Economics course syllabus. It includes 5 units that will be covered: general foundations of managerial economics, laws of production and costs, product markets under different structures, national income concepts and business cycles, and the macroeconomic environment. The objectives are to introduce economic concepts, familiarize students with using economics in managerial decision making, and understand applications of theories to business decisions. Key topics covered include demand analysis, production functions, costs, market structures, pricing, national income, technology, business cycles, and fiscal/monetary policies.
Managerial economics
This document provides an overview of a Managerial Economics course syllabus. It includes 5 units that will be covered: general foundations of managerial economics, law of variable proportions and cost functions, product markets under different structures, national income concepts and business cycles, and macroeconomic environment. The objectives are to introduce economic concepts, familiarize students with using economics in managerial decision making, and understand applications of theories to business decisions. Key topics covered include demand analysis, elasticity, costs, market structures, fiscal and monetary policies, and India's economic transition. The syllabus aims to equip students with tools and insights for furthering organizational goals through economic analysis and decision making.
Managerial economics introduction
Managerial economics applies economic theories and tools of analysis to help managers make informed business decisions. It involves using concepts like demand analysis, production planning, cost analysis, and pricing to optimize profits. The managerial economist is responsible for forecasting demand, minimizing risks and uncertainties, and advising management on issues like capital investment, pricing, and production planning to maximize business gains. Managerial economics bridges the gap between economic theory and business management practice. It draws from other disciplines like statistics and uses economic models and analysis to solve practical business problems.
Term paper
The document is a term paper on managerial economics submitted by a student to their professor. It provides definitions and discusses the history, scope, nature, and role of managerial economics. It also examines the differences between economic theory and managerial theory. In under 3 sentences: The document is a term paper that defines and discusses managerial economics, tracing its history and examining its scope, nature, and role in business decision making and development from a theoretical perspective. It was submitted by a student to their professor for a course on managerial economics.
Managerial Economics & Financial Analysis(MEFA)_e Notes_Part-1
This document provides an overview and introduction to managerial economics. It discusses key topics including:
- The definition and scope of managerial economics, including how it draws from both economics and management.
- The relationship between managerial economics and other disciplines like microeconomics, macroeconomics, mathematics, statistics, and operations research.
- An introduction to demand analysis, including the factors that influence demand like price, income, tastes, number of consumers, and expectations about future prices.
- The document serves to outline the basic concepts and areas of application of managerial economics for managers.
Managerial_Economics_NMBA_012.docx
Managerial Economics (NMBA 012) discusses key definitions in economics. It defines economics as dealing with the allocation of scarce resources to fulfill society's needs and wants. Economics can be defined from wealth, welfare, and scarcity perspectives. Managerial economics applies economic principles and analysis to business decision making. It differs from economics by focusing on micro issues within firms and helping management make optimal decisions. Economics has both positive and normative aspects and uses both scientific and artistic approaches. It has branches of microeconomics and macroeconomics.
Sy bcom Business_Economics_ppt_chap_1.pptx
This document discusses the key concepts of economics, business economics, microeconomics, and macroeconomics. It defines economics as dealing with how people earn and spend income, and addresses economic problems related to unlimited wants and limited resources. Business economics applies economic principles to business problems and decision-making. Microeconomics studies individual economic units, while macroeconomics looks at aggregate economic behavior. The roles of business economists include identifying problems, conducting research, and advising firms on decision-making and planning.
Chapter 1 presentation
This document provides an overview of key concepts in economics. It defines economics as concerned with efficient use of scarce resources to satisfy unlimited human wants. It describes the economic perspective as focused on scarcity, rational behavior, and marginal analysis of costs and benefits. It explains that economics uses the scientific method and theoretical and policy approaches. It distinguishes between microeconomics which examines specific units, and macroeconomics which examines the economy as a whole. The document also covers positive versus normative economics and potential pitfalls to objective economic thinking.
Similar to Significant of business eco (20)
Managerial Economics & Financial Analysis(MEFA)_e Notes_Part-1
Managerial Economics & Financial Analysis(MEFA)_e Notes_Part-1
More from Pandidurai P
Rank correlation problem
The document provides statistical calculations for a data set with 6 samples. It lists the sums of x, y, xy, x^2 and y^2 as well as the result of dividing 2868 by 5413.27 which equals 0.529809.
Linear regression
Regression analysis determines the average relationship between variables, with one variable (independent) being used to predict another (dependent). For example, the amount of rain (independent) can be used to predict agricultural output (dependent, positive relationship), while price (independent) inversely impacts demand (dependent, negative relationship). Regression equations can be calculated from data to model these relationships between independent and dependent variables.
Correlation problem
Karl Pearson developed two methods for calculating the coefficient of correlation between two variables X and Y from sample data. The document provides the values for two variables X and Y but does not explain the methods or show the calculations to find the coefficient of correlation.
Correlation (theory)
Positive correlations exist between taller people and larger shoe sizes, more savings and greater financial security, and higher temperatures and increased ice cream sales. Negative correlations are seen between more absences and lower grades, colder weather and decreased air conditioning costs, and slower speeds and increased travel time. An example analyzes the highway accident relationship between motor speed and number of accidents, finding that increased speed correlates with more accidents, demonstrating how a correlation chart depicts the connection between variables.
Time series
Time series data is a series of data points indexed (or listed or graphed) in time order. Examples of time series data include stock prices over several years, daily temperature readings, or monthly sales figures. Time series data allows analysis of changes, trends, seasonality and other patterns in the data over time.
Semi average method
This document describes the method of semi-averages for measuring secular trends in data. The method involves dividing the data into two equal halves and calculating the arithmetic mean of each half. While simple to understand and apply, the method assumes a straight line relationship between data points and the trend line may change with additional data. The method is explained for both even and odd datasets.
Ratio to trend
The ratio of the current price of a stock to its moving average price over a period of time is used to determine if the stock is overbought or oversold. A ratio over 1 means the stock is trading above its trend and could be overbought, while a ratio under 1 means it is trading below its trend and may be oversold. Traders watch the ratio to trend to help identify potential buy or sell opportunities based on the stock moving back in line with its trend.
Ratio to moving average method
The ratio to moving average method is the most widely used method of measuring seasonal variations. It calculates seasonal variations by taking the ratio of current sales to the moving average of sales for the same period over several previous years. This method helps identify seasonal patterns by comparing current sales activity to historical averages for the same time period.
Moving average method
The moving average method calculates averages for subsets of data over a period of time to smooth out short-term fluctuations and highlight longer-term trends or cycles. For example, a two-year moving average is calculated by finding the average of years 1 and 2, then the average of years 2 and 3, and the average of years 3 and 4. Moving averages are typically plotted to visualize trends over time.
Least square method
The document discusses the least squares method, which is a statistical technique for finding the best-fitting linear regression line for a set of data points by minimizing the sum of the squared residuals, or offsets of the data points from the line. It provides the formulas for calculating the slope (b) and y-intercept (a) of the regression line, and applies the method to fit trend lines to sample sales data for TVs and air conditioners from 2007 to 2012, predicting future sales for 2015.
Method of simple averages
The document describes the method of simple averages to measure seasonal variations. It outlines the procedure which involves arranging data by time period like months or quarters. The sums for each period are calculated and averages found. A grand average is determined. Seasonal indices are computed by dividing the average of each period by the grand average. Examples are given for calculating indices using monthly or quarterly data.
Sampling
This document describes different sampling methods used in research:
- Simple random sampling involves randomly selecting participants from the entire population so that everyone has an equal chance of selection.
- Systematic sampling lists the population numerically and selects participants at regular intervals, like every 10th person.
- Stratified sampling divides the population into subgroups or "strata" based on characteristics and randomly selects participants proportionally from each subgroup.
- Cluster sampling divides the population into subgroups with similar characteristics and randomly selects entire subgroups rather than individuals.
- Convenience sampling and voluntary response sampling involve selecting easily accessible participants, but results may not be generalizable to the entire population.
- Snowball sampling recruits participants through other participants when the full population is
Report Writing
A research report summarizes research that has been conducted. It typically includes three main parts: an introduction describing the background and objectives of the research, a central part detailing the methodology, findings, and conclusions of the research, and an appendix including additional supporting materials. A good research report structure clearly outlines the objectives, methodology, analysis, findings, and conclusions of the research work.
Report writing
A research report summarizes research that has been conducted. It typically includes three main parts: an introduction describing the background and objectives of the research, a central part detailing the methodology, findings, and conclusions of the research, and an appendix including additional supporting materials. A good research report structure clearly outlines the objectives, methodology, analysis, findings, and conclusions of the research work.
Principles of a good research report
A good research report should be selective yet comprehensive, including all necessary details while excluding common knowledge. It must be accurate, objective, clear and simple without bias or ambiguities. The report should also be reliable, attractive, and prepared within budget constraints using proper language tailored to the target audience.
Primary data vs second Data
The document discusses three primary methods for collecting data: surveys, observation, and experimentation. Surveys involve asking questions of a sample group and recording their answers. Observation gathers information through direct observation without questioning respondents. Experiments are conducted in a controlled laboratory environment to study causes and effects.
Primary and secondary
The document discusses primary and secondary data. Primary data is original data collected directly by the researcher through methods like surveys, interviews, questionnaires. Secondary data is data originally collected by someone else through sources like publications, websites, government records. The advantages of primary data are it is specific to the researcher's needs and accurate, while it is time-consuming and expensive to collect. Secondary data is easily accessible and affordable but may be outdated or unreliable.
Precautions for writing research reports
This document provides precautions and guidelines for writing effective research reports. It recommends that reports be long enough to cover the topic but concise to maintain reader interest. Technical jargon and abstract terms should be avoided, using simple clear language instead. The layout and structure of the report must support the research objectives. It should contribute new knowledge, show original solutions, and include proper citations, formatting, and a bibliography.
More from Pandidurai P (20)
Recently uploaded
Earn a passive income with prosocial investing
Invest in prosocial funds that earn you an income while improving the world
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Labour Market Information Council | Conseil de l’information sur le marché du travail
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessLabour Market Information Council | Conseil de l’information sur le marché du travail
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.1.2 Business Ideas Business Ideas Busine
Business Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas PowerpointBusiness Ideas Powerpoint
Discover the Future of Dogecoin with Our Comprehensive Guidance
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
International Sustainability Standards Board
Issb standards
New standard for reporting sustainability on lines of tcfd
Who Is the Largest Producer of Soybean in India Now.pdf
This blog explores the current largest producer of soybean in India and the factors contributing to their dominance.
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
学校原件一模一样【微信：741003700 】《(GU毕业证书)美国贡萨加大学毕业证学历证书》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
5 Tips for Creating Standard Financial Reports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Labour Market Information Council | Conseil de l’information sur le marché du travail
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.How Does CRISIL Evaluate Lenders in India for Credit Ratings
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Economic Risk Factor Update: June 2024 [SlideShare]
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Unlock-the-Power-of-UAN-Your-Key-to-Secure-Retirement.pptx
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strategies
Eco-Innovations and Firm Heterogeneity. Evidence from Italian Family and Nonf...
Eco-Innovations and Firm Heterogeneity. Evidence from Italian Family and Nonf...University of Calabria
The study analyzes differences and primary drivers of green performance between family firms and non-family firms
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...Falcon Invoice Discounting
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.Recently uploaded (20)
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
Who Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdf
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
How Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit Ratings
Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]
Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
Unlock-the-Power-of-UAN-Your-Key-to-Secure-Retirement.pptx
Unlock-the-Power-of-UAN-Your-Key-to-Secure-Retirement.pptx
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Eco-Innovations and Firm Heterogeneity. Evidence from Italian Family and Nonf...
Eco-Innovations and Firm Heterogeneity. Evidence from Italian Family and Nonf...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
Significant of business eco
- 1. SIGNIFICANCE OF BUSINESS ECONOMICS
- 2. 1. The study of Business Economics helps us to understand the economic behavior of human beings.
- 3. 2. It also incorporates useful ideas from other disciplines such as psychology, sociology, etc.
- 4. 3) Business economics covers various important concepts, such as Demand and Supply analysis; Short run cost and Long run costs; and Law of Diminishing Marginal Utility. These concepts support managers in identifying and analysing problems and finding solutions.
- 5. 4. Business economics helps managers in framing various policies, such as pricing policies and cost policies, on the basis of economic study and findings.
- 6. 5. Business Economics helps us to assess the performance of the economy. We can judge the position, progress and future of an economy.
- 7. 6. Business Economics inculcates certain ethical norms like honesty, responsibility and adaptability etc. It upholds the moral and cultural values of individual. It makes them honest and dignified citizens.
- 8. 7. Predicting the economic events. It tells us to predict the consequence of various economic phenomena.
- 9. 8. The study of Business Economics sharpens the intellectual calibers of individuals. It imparts certain qualities like rational behavior, proper allocation of resources etc.