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About the Journal
Economics looks at how people act and decide what to do. On the other hand, "business" is when people trade goods and services. Economics studies how people's choices and governments' actions can significantly affect a country's economy. On the other hand, at least two people or groups must be involved in a business transaction. During the presentations, one example will be given for each of the four types of economic evaluation: economic impact analysis, programmatic cost analysis, benefit-cost analysis, and cost-effectiveness analysis.
Scope of the Journal of Economic and Business Analysis, as well as all of its changes and connections to other fields of knowledge:
- Forecasts of the market. It helps the organisation plan its production schedule and coordinate resource use. It also shows the company's leaders the different things that affect product demand, which helps them keep and grow the company's revenue base and market position. This is done to help them keep their place in the market and grow it.
- Analysis of costs. To meet the requirements of the definition of business economics, it is necessary to make cost estimates for different outputs and figure out what causes differences in estimated costs. To get the desired profit margin, the manager will choose levels of output that waste the least time and money while keeping costs low. Doing a break-even analysis is also part of it.
- Investation decision. Pricing decisions are significant in a company's overall success; valuation is the foundation for these successes. Pricing methods, the process of figuring out prices in different market structures, the pricing of product lines, and differential pricing are also discussed.
- Budgeting and planning for production. The manager's job is to estimate how much the company will make and how much it will charge at different production levels. Since there is less uncertainty, the company has been able to make more money. Planning and figuring out how much money you will make is hard because you have to understand how business economics works.
- Capital Management. Because so much money is at stake, keeping track of and planning capital spending is essential. Getting rid of capital assets takes time and work because the process is complicated. Because of this, the company needs to do an excellent job of managing both its current assets and its current liabilities.
