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Business Economics Overview

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Explain the professional focus of the journal Business Economics.

The professional focus of the journal Business Economics has been expressed as providing 'practical information for people who apply economics in their jobs.'

What is the relationship between business economics and traditional economics?

Business economics is an integral part of traditional economics and is an extension of economic concepts to real business situations.

How is business economics an applied science in the context of managerial decision-making?

Business economics is an applied science in the sense of a tool of managerial decision-making and forward planning by management.

What are the two categories of microeconomics on which business economics is based?

<p>Business economics is based on microeconomics in two categories: positive and negative.</p> Signup and view all the answers

What are the economic issues and problems related to business organization, management, and strategy that business economics focuses on?

<p>Business economics focuses on the economic issues and problems related to business organization, management, and strategy, including the explanation of corporate firms' emergence and existence, reasons for their expansion, the role of entrepreneurs and entrepreneurship, organizational structure significance, and the relationship of firms with employees, providers of capital, customers, and government.</p> Signup and view all the answers