MICRO ECONOMICS AND

BUSINESS

CONTENT

• Meaning of Business• Micro-Economics and Business• Relationship between Micro-Economics and

Business

Meaning of BusinessIt relates to the state of being busy.

Meaning of Business

is an organization engaged in the trade of goods, services, or both to consumers.

Meaning of Business an individual or society as a whole, doing

commercially viable and profitable work.

Micro-Economics and Business• are related because microeconomics studies

the factors that affect individual businesses and organizations.

Relationship between Microeconomics and Business• Study the

Market

Relationship between Microeconomics and Business• Environmental Factors

Relationship between Microeconomics and Business• Location

Relationship between Microeconomics and Business• Competition