GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following is the best example of a business’s economic decision?
|
|
hiring part-time employees to save on costs
|
|
|
Endorsing an independent candidate in state elections
|
|
|
updating directions to your office on the company website
|
|
|
Following up with a customer after she exchanged an item
|
Explanation:
Detailed explanation-1: -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-2: -Studying the scope of business economics is important as it enables business owners to comprehend how the economy operates and how it affects their operations. Business economists make decisions on capital investments, pricing tactics, and profit margins based on their understanding of economic theory.
There is 1 question to complete.