The book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding of social and commercial issues, rather than help us forecast economic trends. It directs how to develop management science as a means of understanding the behaviour of firms. Written primarily for students, taking courses in managerial economics in India, Fundamentals of Business Economics analyses the growth and development of privately owned firms and the decisions made by firms operating in both private and public sector enterprises.
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The aim of this book is to provide a rather more comprehensive wide-ranging treatment of public sector economics than is usual. It deals with theory, policy and practice within the broad context and attempts a more general integration of them than is found in most other texts. It recognises that students invariably study other subjects …
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Traditionally the term Public Finance has been applied to the package of those policies and operations which involve the use of tax and expenditure measures while budgetary policy is an important part to understand the basic problems of use of resources distribution of income etc. Public economics (or economics of the public sector) is the …
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Money is first and foremost a medium of exchange. When all parties in an economy will accept money, it eliminates the need for a double coincidence of wants that goes with barter – that is, both parties have to want what the other is offering. Accordingly, money as a medium of exchange is much faster …
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Entrepreneurs are especially talented persons capable of identifying projects, marshalling resources, innovating ideas, assuming risks and establishing ventures. In these days of highly uncertain business environment and highly sophisticated information technology, prospective entrepreneurs have to be inspired and motivated to take up some self-employment ventures and thereby create employment opportunities for many people. The main …
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Quantitative techniques are a scientific approach to the managerial decision-making. The successful use of Quantitative Techniques for management would help the organizations in solving complex problems on time, with greater accuracy and it is more significant in the application of theories, especially in social sciences. Hence, the author takes an advantage to write this book …
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The COVID-19 crisis has affected societies and economies around the globe and will permanently reshape our world as it continues to unfold. While the fallout from the crisis is both amplifying familiar risks and creating new ones, change at this scale also creates new openings for managing systemic challenges, and ways to build back better. …
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