Overview

Business refers to any activity, which is carried out for the purpose of earning profit. Business entities can be divided into sole proprietorship, partnership, corporation, cooperative, franchises, etc. The organizational setup of a business is based on the functional domains of manufacturing, finance, marketing, research and development, etc. The discipline of economics studies the production, distribution and consumption of goods and services. Such analyses are of significance in business and finance. Managerial economics attempts to use economic methods to optimize business decisions through cost minimization and profit maximization. This book strives to provide a fair idea about the disciplines of business and economics and to help develop a better understanding of the latest advances within these domains. It outlines the processes and applications of these fields in detail. Managers, economists, researchers, academicians and students will be assisted by this book.