Description

Economics

This book “Economics – 2” has been redesigned to help everyone understand the basic concepts and theories of Micro Economics with special emphasis on the practical application in business management.

Keeping this in mind, we have attempted to provide a clear understanding of pricing analysis which seeks to explain how product price is determined in markets such perfect competition, monopoly, monopolistic competition on the one hand, and how factor prices such as rent are determined in the factor markets on the other.

Components

The topics included in the book belong to some special sections of Micro Economics such as

• Concepts of cost and revenue
• Pricing under perfect competition, monopoly and monopolistic competition
• Marginal productivity theory of distribution
• Theories of rent

Objective

We have tried to discuss the said topics in a simple language. Review exercises at the end of each chapter and multiple-choice questions along with answers.We hope this would help the students in their preparations for examinations.

Suggestions and feedback from the teaching fraternity and the students are earnestly solicited and will be highly appreciated to improve further the quality of this book.