Economics of Business

Abstract

Relevance of the discipline "Economics of Business" is specified by the fact that the transition to a market economy is inextricably connected with the development of private business sector and involvement of general population to the independent activity. This will help to solve a number of economic and social tasks inherent to transformation shift in social and economic growth and social stability. Mobile and dynamic private business sector is a stable basis for formation of the competitive environment, stimulates more complete satisfaction of consumer needs, expands employment opportunities for citizens of Ukraine, for many of which entrepreneurship is the main type of work. The transition to a market economy requires an appropriate level of economic knowledge from the experts of the economics. Under conditions of uncertainty generated by changing internal and external environment each representative of private business has new responsibilities and new roles. The business legal entity must ensure by their own supply from different sources, so specialists should have knowledge for acquisition of inventory (goods and services), assessing their cost and making payments with suppliers. It is necessary to sell manufactured products and works which are made – so there is a need in knowledge about relationships with customers and the distribution of income received. Businesses should take care about the most effective financial structure – the proper accounting of revenues and expenditures, control over the formation and use of assets and liabilities, the optimal investment business.