I study management at Nottingham. Business just sets you up for two streams, a decent job with just undergrad...or a really high paying job with a msc, reputation of universities do however matter in the business world! So keep that in mind, i wouldnt suggest studying business at any less then a RG or comparable brand name university ie Lancaster or Bath. Though many would disagree its just my opinion.
Why do people feel business is easy? Well because its theoritical yes, but its also extremely vocational. The most abstract area would be marketing or strategy, but even those make perfect sense. Since you learn about businesses and many lectures tie into real world companies its not something like astronomy or something very vague. Is it a cupcake degree? No it requires a fair amount of work, but nothing impossible to tackle, though some people really do struggle with it, especially if you just think you dont have to do the work. But most people can get a decent grasp out of it. The more you put into it, the better you actually do, so thats a positive aspect.