The book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding of social and commercial issues, rather than help us forecast economic trends. It directs how to develop management science as a means of understanding the behaviour of firms. Written primarily for students, taking courses in managerial economics in India, Fundamentals of Business Economics analyses the growth and development of privately owned firms and the decisions made by firms operating in both private and public sector enterprises.
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Traditionally the term Public Finance has been applied to the package of those policies and operations which involve the use of tax and expenditure measures while budgetary policy is an important part to understand the basic problems of use of resources distribution of income etc. Public economics (or economics of the public sector) is the …
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