The economic techniques have gained a wide application in the process of modem management decision, possible, because recent business problems have become so complex that manager's personal experience is no longer adequate to give an appropriate solution. The purpose of this book is to provide, in one volume, the different economic theories which are deemed to constitute the subject matter of managerial economics. This book is written especially for B.Com., B.B.A., M.Com., M.B.A., and c.A. students of our country.
This book is intended to explain in non-technical language, the economic concepts, tools of analysis, their relevance in management decision-making and also the influence of economic environment on management decisions. To facilitate an easy understanding of the subject, the timely help of illustrations, examples, diagrams, tables and charts has been taken, Important terms relevant to the business economics are given in a separate chapter. To my publisher, I am grateful for publishing the book with due care and skill in a very short time. I shall be thankful to the readers for pointing out discrepancies and errors in the text, which I hope to rectify in the next edition of the book. Suggestions for further improvement of this book will be highly appreciated.
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