The growth of business economics has stemmed from management’s increasing awareness that applied economic analysis can provide assistance in planning and problem solving. The business cycle, government policies and international upheavals can have major impacts on companies. Business economists are able to analyse and interpret these developments in terms of their probable impact on consumer demand, prices, costs, competitive pressures, financial conditions and other matters. This book is designed for teachers, students and professionals of business economics. It provides a forum for detailed discussion of the core principle of microeconomics and shows how these concepts are implemented in business decisions. Emphasising the practical business applications of economic theory through the use of case studies and assignment questions, this text gives a flavour of the economic debates that surround economic policy in a clear and non-technical way. User-friendly, jargon-free and comprehensive in its approach, the book takes an in-depth look at the principles of business decision making, demonstrating how managers can apply economics in business.
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