The author has great pleasure in presenting this edition of “Economics of Business”. At the undergraduate level, a student of economics is expected to grasp the basic concepts of microeconomics as well as some concepts of macroeconomics.
In the first 20 chapters , the book exhaustively deals with the substance of macroeconomics – the theory of customer’s behaviour, production, product pricing and the pricing of factors- rent, wages, interest and profit including theories of factors shares.
The remaining chapters, cover such selected topics of macroeconomics as National Income, Issue of Public Finance and Budgetary Policy together with a comprehensive exposition of Economic Systems.
Contents –
1. Nature of Economic Analysis
2. Economics for Business
3. Consumer’s Behaviour (Marginal Utility Analysis Cardinal Approach)
4. Indifference Curve Analysis
5. Elasticity of Demand
6. Elasticity of Supply
7. Factors of Production
8. Theory of Production
9. Cost of Production
10. Forms of Market
11. Pricing : Perfect Competition
12. Equilibrium of the Firm and Industry
13. Monopoly
14. Monopolistic Competition
