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Business Economics - overview

To use the company's resources to satisfy customer needs

Business economics is concerned with the use of company resources necessary for it to function. It is important to monitor the use of the resources in order to give the best value for customers and the company's stakeholders.

Objectives: The purpose of the course is to provide insights into the use of business economics for the activities of a company to satisfy customer needs.

Level: Basic, you need no prior knowledge.

Training Method: Business Economics - overview is a Module course and is studied over the internet via our e-learning platform Instant education. Read more about the training method here.

Course Length:Approximately 5 hours active study time.

Price: 70 EURO / student
78 USD / student

Prices excluding VAT.
For large-scale education projects request quotation.

Online price:

55 EURO / student
61 USD / student

Prices excluding VAT.

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Course contents:

What is Business Economics
Business economics is a term used to describe and explain the production, distribution and consumption of goods and services.

Basic Financial Concepts
In order to understand how a company’s resources can be used in the best possible manner, we must learn how to use a number of financial concepts.

Results and Profitability
How to measure profitability.

Use of Capital
The amount of capital needed by a company may vary, as does the manner in which the capital is used.

The DuPont Model
A model to analyze where there is greatest potential for improvement within a company.

Interactive DuPont Model
Interactive Du Pont model used to calculate profitability.

Variable and Fixed Costs
A company’s costs can be divided into variable and fixed costs.

Direct and Indirect Costs
One of the main problems of product costing is to determine which costs are caused by or used for a particular cost unit.

Incremental Costs and Joint Costs
The causal connection between action and costs.

Capital Tied up in Inventory
A basic premise for material control is that tied-up capital should be kept at a low level.

Inventory Turnover Rate
Inventory turnover rate is a measure of how quickly the inventory is renewed.

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