Scope of business Economics
Scope of business Economics Business economics is an evolving science. It is a newly developing subject whit the popularity of management studies. hence, there is no uniform pattern as regards the scope of business economics. 1) demand analysis Demand analysis helps to identify the various factors influencing the demand for a product. the various factors such as price of the commodity, prices of related goods, income of the consumer, tastes and preferences etc determine the demand. The concept of elasticity of demand has a wide range of practical application in economics and business. the concept of elasticity of demand is of utmost practical use, for pricing policy. the concept of demand elasticity serves a the link between the pricing