Economics and the World of Business

BUSINESS ECONOMICS Topic: Economics and the World of Business Submitted To; Affan Ahmad Khan Submitted By: Babar Hussain Sindhu MBA-FA09-031 Liaqat Ali MBA-FA09-055 Muhammad Umer MBA-FA09-094 Section (R) [pic] What do Economists Study? ? Level of production ? Pricing ? Profit ? Factors of production ? Data assembling and analysis ? Supply and demand ? Economic trends ? Demographic trends Level of production ? Business economists  second corporations decide how oft of a in effect(p) to produce. The goal here(predicate) is to maximize pay at all times. Producing too much of a good can lead to a superfluous in the marketplace, resulting in lower termss and thus lower kale over time. Not producing enough can leave a corporation out of a growing marketplace, and reduce profit potential.

? Various factors can go into deciding how much of a good to produce. The up-to-date cost of raw materials and the current or projected demand of consumers are just two of the factors. A business economist will use various sparing statistics, such as trends related to raw goods values, to help with analyzing current market trends. Pricing ? Determining how to price various goods and services represents some other priority of a business economist. Pricing a good or service at a competitive price ensures a corporation remains competitive within the marketplace. In order to make a profit, price must, at minimum, kick the bucket the corporations cost to produce or return the good or service. ? Business economists take several additional factors into account when pricing a good or service. For instance, the consumer price index (CPI) represents the amount an individual is willing to spend on a specific set of goods. By analyzing trends related to the... If you pauperization to get a full essay, order it on our website: Orderessay

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