UGC NET-Commerce-08-Business Economics
UGC NET Commerce-08-Business Economics is one of the subject which you might not have studied in your post graduate level, however, it was there in graduation. The questions are mostly of graduation level.
Many students are usually not comfortable with this subject because of limited scope in the entire syllabus and not being in touch for sometime during their post graduation.
Business Economics has basic syllabus and most of it is introductory in nature. The following topics are part of it:
- Nature and uses of Business Economics
- Concept of Profit and Wealth Maximization
- Demand Analysis and Elasticity of Demand
- Indifference Curve Analysis Law
- Utility Analysis and Laws of Returns
- Law of variable proportions
- Cost, Revenue, Price determination in different market situations
- Perfect Competition
- Monopolistic Competition
- Price discrimination and Oligopoly
- Pricing Strategies
This is not a huge course, however understanding of the theory, formula, theorems, graphs, curves is definitely needed. It needs to be learned in a way that you should be able to recall the exact statement or theorem or notation for the purpose of answering the question.
Business Economics is more of a common sense which happens regularly in a common business scenario. Changing of Demand, Supply, Constraints, Production and Market environment leads to various business decisions which has to be taken for the purpose of maintaining business viability, stability and profitability.
Any graduate level book should give you good enough information about business economics.
This subject can become one of the scoring subject as well can be one of the most difficult subject depending on the student comfortable level.
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