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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Urbanization and Modernization and are closely co-related and modernization is marked by increasing urbanization which in turn resulted in the spread of literacy and employment opportunities. Most of the nations of the world have energized their efforts for industrial rapid development and it has the power of attract more money, men and materials for urban …
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