Business Economics
UNIT:- 1 Introduction
to Business Economics:
Meaning, nature, Scope, characteristics
of Business Economics;
Relationship between Business
Economics and Traditional Economics;
Basic Problems of an economic system,
working of price mechanism.
UNIT:- 2 Elasticity of
Demand:
Concepts;
Measurements;
Determining factors and importance;
Supply theory .
UNIT: - 3 Production function:
Law of Variable proportion; lsoquants;
Economic region and optimum factor
combination; Expansion path;
Returns to scale;
Internal and external economics and diseconomies.
UNIT: - 4 Market Structure:
Objectives of Business firms;
Perfect competition: profit minimization
and equilibrium of firm and industry
Short – run and long – run supply Curves
Price and output determination.
UNIT: - 5 Monopoly:
Determination of price under monopoly;
Perfect competition and monopoly;
price discrimination.
Oligopoly: characteristics; In
determining pricing and output ; price leadership collasive oligopoloy;
kinked demand curve.
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