The following points highlight the top five types of business units. The types are: 1. Individual Proprietorship 2. Partnership 3. Joint Stock Company. Business Unit: Type # 1. Individual Proprietorship: Sole or individual proprietorship is the oldest and simplest form of business organisation. In this type of organisation, an individual is the sole ownership of the business. He supplies land; [...]
Let us make an in-depth study of the Business Economics. Read this article to learn about :- 1. Definition of Business Economics 2. Characteristics of Business Economics 3. Scope. Definition of Business Economics: The teaching of economics is, thus, an abstract theorization with little connection to business. But theoretical models of economics are to be applied in business areas. Once [...]
As we know that objectives of business firms can be various. There is no unanimity among the economists and researchers on the objective of business firms. One thing is, however, certain that the survival of a firm depends on the profit it can make. So whatever the goal of the firm-sales maximization, maximisation of firms, growth, maximisation of managers' utility [...]