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Question 1
Business Economics is a useful toolbox for understanding the business environment and making better decisions. Consider you are the managing director of a manufacturing company based in UK; describe the different aspects of the business that you should be looking at from an economics perspective in order to run the company efficiently. Consider both the microeconomics and macroeconomics perspectives.
Question 2
Focus on one microeconomics aspect and a macroeconomic one from those you have described in Question 1 and explain using economics theory how you would improve the running of your company. Use real world examples to back your answer (you may use examples from the press, books, journals, etc).
Question 3
Let's consider that your company is looking at expanding internationally by opening a new manufacturing facility in a non-EU country. Choose the country where you would be locating the new branch justifying your answer based on a macroeconomic analysis; you should review at least the following aspects:
a) Macroeconomic conditions of the country. b) Current economic policy (fiscal and monetary).
Verified Expert
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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