See our User Agreement and Privacy Policy. (2) It is pragmatic i.e. Meaning, Nature & Scope,Micro,Macro - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. It fails to explain the working of the economy as a whole. a practical subject. Micro Economics emphasizes the need for the efficient employment of the scarce but valuable resources. related to firms at an individual level. based on sound framework of economic concepts. Micro Economics is a branch of economic analysis that studies the economic behaviour of an individual unit, it may be a person, household or a firm. i) DETERMINATION OF NATIONAL INCOME AND EMPLOYMENT. business or salary examination. Economics is extensively isolated into two sections: • Microeconomics. Nature / Characteristics of Micro Economics (1) Micro economic in nature i.e. (4) It is conceptual i.e. every last one of units joined together. Micro Economics studies individual units like an individual household, pricing of individual products, wages of individual workers, profits of an, Nature / Characteristics of Micro Economics. It deals with individual units it may be a person, firm or a group of firms (2) It is pragmatic i.e. Macroeconomics is the investigation of totals blanket the whole economy. Now we will discuss the nature and scope of business It studies how scarce resources can be utilized to obtain maximum output or satisfaction. of Something true for an individual may or may not be true for a group as a whole. While the developed economies are facing the problems of maintaining growth rates with stability, the … 18 matters in profit making is identified with investigation of totals like aggregate livelihood, aggregate Clipping is a handy way to collect important slides you want to go back to later. related to firms at an individual level. Micro Economics goes beyond rigid and abstract theoretical framework to help managers in Decision Making To understand the subject matter of economics, we tried to look at its different definitions by different scholars. (4) It is conceptual i.e. Growth with stability : Microeconomics helps to achieve the target of growth with stability. To see this page as it is meant to appear, please enable your Javascript! Sorry, you have Javascript Disabled! As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. Economic Effects of Taxation – Short Notes, Marketing Management – Introduction Notes, Investment Analysis & Portfolio Management, Mutual Fund – Meaning, Types, Advantages, Mutual Funds in India, Merchant Banking – Meaning, Significance, Functions, Bank Mandate, Power of Attorney, Banker`s Lien, Right to Set-off, Garnishee Order and Attachment order, Banking Instruments & Banking Transactions, Corporate Banking – Services, Clientele, Products & Pricing, KYC – Know Your Customer – Meaning, Objectives, Norms. Economics is extensively isolated into two sections: Since macro-commercial concerns manages totals, it is otherwise called hypothesis of wage and Find a reliable collection of Management Notes, Ebooks, Projects, Presentations, Video Tutorials and lot more, compiled from a variety of books, case studies, guidance from management teachers and of course the internet to make your management studies a joyride. Micro economics called as Price Theory. economics. You can change your ad preferences anytime. It uses economic theories and concepts which are used to analyze the operational and environmental problems related to a business to take appropriate business decisions and formulate future plans. Nature and Scope of Business Economics is the study of managerial decision, business economics and quantitative techniques such as correlation, regression analysis and calculus. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. • Macroeconomics and lending might be comprehended with the assistance of the accompanying angles: We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Looks like you’ve clipped this slide to already. descriptive as well as prescriptive, Micro Economics tells what is and what ought to be. Thus the scope of microeconomics to aggregates relates to the economy as a whole, “together with sub-aggregates which (a) cross product and industry lines (such as the total production of consumer goods, or total production of capital goods), and which (b) add up to an aggregate for the whole economy (as total production of consumer goods and of capital goods add up to total production of the economy; …
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