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The economics of business deals with the economic issues and problems related to the organization, management and strategy of the business. Among the issues and problems are: Explaining the reason for the rise of the corporate star and its retention, and the reason for its expansion: horizontally, vertically and spatially, the role of entrepreneurs and entrepreneurship, the importance of organizational structure, Capital, clients, government, corporate interaction and the working environment.
Confusion occurs when using this term
The term "business economics" is used in various ways. It is sometimes used in the synonym of industrial economics, industrial economics, and business economics. However, there may be substantial differences in use between the 'business economy' and the 'administrative economy' where the latter term is used on a small scale. If we want to gloss over one of the differences between these two words we can know that business economics are broader than the industrial economy in the sense that it is not only interested in the study of "industry"; But also the service sector. The business economy examines the basic principles of economics but focuses on the application of these economic principles in the real world of business. [3] Managerial economics is the application of economic methods in the managerial decision-making process. [4]
Interpretation of the term "business economics" from several universities
Many universities organize courses in the commercial economy and offer a number of interpretations on the meaning of this term. [5] Harvard's approach is based on economic methods in analyzing the practical aspects of business, including business administration, management and areas of business economics. [6]
At the University of Miami, business economics is a study of how we can use our resources in the production, distribution and consumption of goods and services. This forces business economists to analyze social institutions, banks, the stock market and the government, and discuss their relations with labor negotiations, taxation, international trade, and urban and environmental issues. [7]
The courses at the University of Manchester explain business economics as a science that deals with the economic analysis of how business contributes to the welfare of society rather than focusing on the welfare of the individual or business. This is achieved by examining the relationship between ownership, control and corporate objectives, corporate growth theories, corporate behavioral theory, entrepreneurial theories, and factors affecting the structure, management and performance of business at the industry level. [8]
Business and economics portal · v · t · e. Experimental economics is the application of experimental methods to ... Experiments are used to help understand how and why markets and other exchange experiments in a business can provide an opportunity to know how workers customers or profits might react to proposed .. Economic experiments are not simulations or role-playing exercises. .... Trade can occur in two ways. ... control regulations in the market affect behavior and produce unintended consequences Experimental economics allows for the controlled study of markets, environments (rules for trading), and the behavior of participants When behavior differs from theory, experimental economics can help revise theories of economic behavior. Policy makers often look to experiments to study effects of policies before they actually implement policies that might impact the entire economy. The same ideas hold for business decisions. Regards Mahmoud hassan
Experiments in a business can provide an opportunity to know how workers, customers, or profits might react to proposed changes or simply to understand why they behave the way they do
Economic survey is most import thing for enhance of any business.
