Economics for Business

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  • Topic: Economics, Macroeconomics, Microeconomics
  • Pages : 12 (3717 words )
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  • Published : May 13, 2013
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London Guildhall College

ATHE Level 6 Diploma in Management
Unit Title: Economics for Business
Submitted by: B. M. Akhtaruzzaman

London Guildhall College

ATHE Level 6 Diploma in Management
Unit Title: Economics for Business
Submitted by: B. M. Akhtaruzzaman

Table of Contents
Introduction2
Task 1 -Understanding of the Micro-Economic Business Environment3
1.1:The Importance of the Micro-Economic Environment to Business Organisations3
1.2:An Analysis of Business Objectives and Business Behaviour in the Economic Context4
1.3:An Analysis of the Impact of Market Structures on Business Organisations7
Task 02 -Understanding of the Macro-Economic Environment in the Domestic Context of the Country8
2.1:An explanation of the determinants of national income for the relevant country8
2.2:An explanation of government policies on the economy of that country8
2.3:An analysis of the impact of the macro- economic environment of business organisations9
Task 03 -Understanding of the Implications for Business of Operating in the International Economic Environment11
3.1:An analysis of the features of the international economic environment11
3.2:An analysis of the economic implications for business of operating in a global business environment11
Conclusion13
References14

Introduction
Economics is a subject of is being run in the wide range. Economics is not only been in the family but in the business Organisations, Economies, governments as well. It cannot be separated from the people. It is a subject of determining the effectiveness and efficiency of allocating and utilising the resources. Therefore the knowledge of economics is much important to all of the organisations to get their decisions regarding the growth of them. Economics is more important not only as subject but as in our day to day activities too. Hence the knowledge of economics for the managers is more important to operate the organisations successfully. According to the assignments, this is going to be discussed regarding the understanding and knowledge regarding economics how will be utilised to allocate the organisational resources. This assignment is discussed the impact of the knowledge of economics to the decision makings of the organisations. According to that the assignment has been consisted with two parts. In the first part it has been discussed regarding the importance of micro economics environment to the decision making purposes of the managers. As the purpose of the second part of the assignment, it has been discussed regarding the importance of macro economic to the decision making of the managers and its importance to the business behaviour. In the third part of the assignment is talking regarding the international context of the economics to the operations of the business. According to that it has been discussed the operating the organisation in international economic environment because the organisations’ activities cannot be limited to the specific tertiary area and specific demographic area.

Task 1 -Understanding of the Micro-Economic Business Environment 1.1:The Importance of the Micro-Economic Environment to Business Organisations The environment is more important factor to all of the parties in the world. The environment which the people are been is highly affected to the organisations existence within the business environment. The business environment is divided in to two parts in basically as macro economic environment as well as micro environment. The environment is the most critical factor that helps to the all the stakeholders to develop their knowledge about the organisation (Harris, 2001: 03). The micro environment is taking the environmental factors separately and studying their relationship with the economy. According to that the micro economic environmental factors are possessed with consumer demand & supply, consumer satisfaction scarcity,...
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