Complete Business Economics-I Notes for B.COM, BBA and MBA.
Get the Complete Lecture Business Economics Notes for BBA, B.COM and MBA Students. Before getting the notes, Check the Topics You will get in these Notes.
Unit-1: Economics: Meaning, Nature and Scope, Micro and Macro Economics, Central Problems of an Economy, Economic Systems- Types and Features.
Unit-2: Business Economics- Nature and Scope, Decision Process, Fundamental Concepts in Decision Process, Relationship between the Economic Variables, Objectives of the Firm, Baumal's Theory, Behavioral Model, Profit Maximization as Corporate Goals, Limitation of Economic Theories.
Unit-3: Theory of Demand: Meaning, Law of Demand, Types of Demand, Factors Affecting Demand, Marginal Utility Analysis and Consumer Behavior Analysis: Cordinal and Ordinal Utility Approach.
Unit-4: Elasticity of Demand, Measurement of Elasticity of Demand and its implications in Decision Making Process, Demand Forecasting- Role, Types and Methods.
Unit-5: Production and Cost Analysis: Meaning of Production, Production Function, Least Cost Combination of Inputs, Factor Productivity and Returns to Scale, Cost Concepts, Modern and Traditional Theory of Costs in Short and Long Run, Economies of Scale.
Unit-6: Market Structures and Firm's Equilibrium, Concepts of Revenue, Break-Even Analysis, CVP analysis.