Economics and the Business Environment


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Economics refers to the social science, which studies the distribution, consumption, as well as the production of goods and services. The subject is broadly divided into two sections namely microeconomics and macroeconomics. Microeconomics is concerned with the study and analysis of the markets and individual agents like, sellers, firms and buyers. Macroeconomics deals with the aggregated investment, production, consumption and savings in the entire economy and the issues affecting them. Business environment is the ability of a firm or company to maintain and build its customer relations. This subject involves analysis of the micro, macro and the internal environment. The purchasing power of consumers is affected by the economic factors such as interest rate, recession, inflation rate, etc. This book is compiled in such a manner, that it will provide in-depth knowledge about the diverse areas of economics and their relation with business environment. It presents these complex subjects in the most comprehensible and easy to understand language. It aims to serve as a resource guide for students and experts alike and contribute to the growth of the disciplines.

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