Applied Concepts of Business and Economics

Business is any activity that results in profit by the sale and purchase of goods or services. On the other hand, economics is the study of the production, consumption and distribution of goods and services. Businesses can be categorized as sole proprietorship, partnership, corporation, cooperative, franchises, etc. The operations of accounting, finance, manufacturing, marketing, research and development, safety and sales are crucial to any business enterprise. Economic analyses are applied to businesses, especially for strategic decision-making, cost-minimization and profit maximization. Different approaches, evaluations, methodologies and advanced studies on business and economics have been included in this book. It elucidates new techniques and their applications in a multidisciplinary manner. Students, researchers, experts and all associated with these fields will benefit alike from this book.