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It analyses business problems on the basis of established concepts. BBA 2nd Semester MAKAUT WBUT Organizer. Get the Reference Notes of Management Management Notes. It studies how scarce resources can be utilized to obtain maximum output or satisfaction. Positive economics: Positive economics is that which studies things as they happen in reality.It explains whatis,what was,and what will be.It studies cause and effect relationship between economic phenomena.For example,the law of demand studies cause and effect relationship between price and demand for a commodity. Get Bachelor of Business Administration Notes for 1st, 2nd, 3rd Year through the links here. Discuss, share and download free lecture notes, eBooks, handouts for BBA/BBM students CORE & General first year students in India. 1 st Semester. MS-DOS stands for Microsoft Disk Operating System. Contents Microeconomics: concepts and uses. 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