Understanding Broadcast Media Economics in Pakistan (P & R Vol. 2 Issue 9)

The concern of Economics is welfare of people through opportunity, employment and production of goods and services. Economics deals with the question of what is produced, what technology and which organization goes into producing the output, for whom the output is produced, and how is it sold in the market. The sales of output is distributed to employees, suppliers, owners and shareholders. Similar economic principles are applied when we talk about media industry across the globe, because media market performs a very useful task by creating employment, value and growth.