B Business Economics

Business economics is concerned with economic issues related to firms. It includes various important topics ranging from the Basic Economic Problem to Economies of Scale.

Basic Economic Principles

Factors of Production

Production Possibility Frontier 

Costs

Break Even

Sectors of the Economy

Public and Private Sectors

Privatisation or Nationalisation?

Division of Labour and Specialisation

Disadvantages of Division of Labour

Economies of Scale

Internal Economies of Scale

Diseconomies of Scale

External Economies of Scale

Competitive Markets

Barriers to Entry

Natural Monopolies

Oligopoly

Planned and Free Market Economies

Growth of Firms and Inorganic Growth

Why are there still small firms?

Disadvantages of Smaller Firms

Overcoming the problems of Monopoly