Description
Both tasks be in one word document please so all 1500 words are in one word document thank you
Answer preview
Introduction
Business economics studies financial issues and challenges experienced by business entities operating in a particular economy or market. The market economics comprises of topics that include management, business expansion strategies and organisational structure. The studies may also analyse the reasons for corporate development, impacts of entrepreneurs, corporate interactions and the impact of government regulations. Marketplace or an economy needs control measures to have standards and quality operations. In particular, government intervention in the economic activities is critical to the control of business owners, companies and the overall economic stability. Interventions address market inefficiencies, social welfare, macro-economic factors and socioeconomic factors. Other measures include raising wages, reducing or increasing prices, income equality promotion, money supply management and increasing profits and curbing interest rates.
Economic Efficiency
Economic efficiency implies that economies optimally allocate resource to serve entities in the best way thus minimise inefficiencies and wastage. Introduction of changes in the economically efficient markets to assist an entity harms another (Ali 77). The production sectors have raw materials converted into finished products at the lowest possible cost. There are two major constraints to economic efficiencies that include government involvement and markets distortions. The restrictions compete and sometimes complementary as they relate to government interference in the market.
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