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Business economics is the application of the science of economics to business. This can be used to develop strategies and to model markets, customer behavior and competition. The following are common examples of business economics.
The way that businesses capture value.The different types of value that are created by businesses.The output created for a unit of input.The output created for an hour worked.Tangible and intangible things that are expected to create future value. For example, machines and talent.
Competition in areas such as cost, quality and customer experience and related concepts such as competitive advantage, economies of scale and commoditization.Business CyclesBusiness cycles such as a period of high prices and capital investment followed by a period of low prices and industry decline.
Modeling pricing with supply and demand and concepts such as sticky prices.Models for marketing communication such as attention economics and six degrees of separation.Economics related to the sales and delivery of products and services such as economies of density.
Foundations for improving quality of life and reducing environmental damage such as the idea of common goods and tragedy of the commons.|
| Type | | | Definition | The application of economics to business. | | Related Concepts | |
Marketing Economics
This is the complete list of articles we have written about marketing economics.
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