The world in which we live is dominated by businesses big and small. A level Business is an exciting and interesting subject that can help you understand the world in which we live. Businesses are dynamic organisations that reflect the values of society and the people working in them. Studying A level Business will help you gain an insight into both. Business is a flexible subject that may be combined with a wide range of subjects both at A level and in Higher Education.
What is the difference between Economics & Business?
Economics is a social science that attempts to explain how the actions and decisions of firms, consumers and workers and governments affect the operation of the economy. It plays a huge role in our daily lives; it has links to international affairs and politics and is a subject that is often debated and discussed. It requires a fair deal of analysis and includes topics such as supply and demand, growth, inflation, globalisation and exchange rates.
Business is more concerned with the actions and decisions taken by firms and focuses on topics such as marketing, staff in the organisation, accounting and finance, management, strategy and production methods.
Business studies students will also have to cover some Economics, as it affects how businesses operate in their external environments.
Although Business is not free from theory, it is less theoretical than Economics. Out of the two subjects Economics is considered to be the more academic by employers and universities. Business requires less understanding than Economics, but it by no means an easy subject; instead it involves more learning and therefore has more work to cover, and a great deal of new terminology to grapple with. Therefore, you might say that Economics course has more depth, with the Business course having more breadth.
Business & Economics