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attashe74 [19]
3 years ago
10

Why is it important for businesses to understand the role of economics?

Business
1 answer:
MrRa [10]3 years ago
6 0

Answer:

Business economics often handles the analysis of various costs that business firms incur. Every business always desires to minimize their costs and maximize its profits by embracing different economies of scale. Nonetheless, the firms fail to determine exact costs that are involved in the production process.

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