The Economics is Important for Business Managers, they should know the market they are operating in, industry size, demand, supply in the market, who holds maximum market shares, who are the top players, etc. How to do resourcing, inventory, product pricing all these aspects should be aware to business managers. Majorly business manager should know the Macro economic Environment comprising GDP, Inflation, Population, Literacy Rate, Exports, Imports, etc; and Micro Economic Environment which deals with markets, consumers, producers, and industries.
Thank You,
Dr.Goparaju Purna Sudhakar
(https://gpsudhakar.com)