The contents will sharpen analytical skills of students of Management courses. The book starts with a description of some vital concepts of Management economics such as profit, opportunity cost etc. Explicit costs and implicit costs explanation of decision making process. To make, this concepts easy to understand, case studies have been provided. The concept of production possibility curve has been introduced.
No book on business Economics / Managerial- Economics can avoid discussion of tools Like Demand. Supply and price-determination. The discussion starts with the meaning of these terms, and goes on to develop the topic to a higher level Method for calculation of Demand function and supply of function have been explained. The tool of elasticity of demand is a practical concept in the world of actual business. The calculation of elasticity of a product is highly useful. In making changes in output and fixing the price of the product.