ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Math Skills
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Technical Skills
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Basic Business Skills
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Communication Skills
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Detailed explanation-1: -Four key economic concepts-scarcity, supply and demand, costs and benefits, and incentives-can help explain many decisions that humans make.
Detailed explanation-2: -Business economics is a field of applied economics that studies the financial, organizational, market-related, and environmental issues faced by corporations. Business economics encompasses subjects such as the concept of scarcity, product factors, distribution, and consumption.
Detailed explanation-3: -Key concepts or big ideas in economics. The following are key concepts/big ideas in economics: Scarcity results in choices with opportunity costs. Values influence economic choices.
Detailed explanation-4: -Managerial Economics assists the managers of a firm in a rational solution of obstacles faced in the firm’s activities. It makes use of economic theory and concepts. It helps in formulating logical managerial decisions. The key of Managerial Economics is the micro-economic theory of the firm.