Business Economics, Managerial Economics,Definition, Nature of Economics,Circular Flow of Economic Activity,Determinants of Supply

1. Mrs.L.M.MAHALAKSHMI,
Assistant Professor,
Department of Business Administration(UG & PG),
V.V.V College for Women, Virudhunagar.

5. Nature of Business Economics
•Application oriented in science.
•Use of basic economic concepts & principles.
•Serves as a tool in study of business
administration.
•Pragmatic & Realistic.
• Micro Economics in character.
•Macro Economics in character.
•Normative rather than positive.
•Not a part of economic theory
•Goal oriented in nature
•Both conceptual and metrical in nature

7. DETERMINANTS OF SUPPLY
•PRICE OF INPUT
•TECHNOLOGY
•NATURE
•GOVERNMENT
•TIME PERIOD
•PRICE OF RELATED PRODUCTS
•PRICE OF A PRODUCT