Business and Economics: An Interdisciplinary Approach

Business refers to the practice of buying and selling goods and services with the objective of making money or earning a living. Business transcends across diverse fields of entertainment, industrial manufacturing, finance, agriculture, transportation, etc. Understanding of economics is vital to the study of business. It is the social science that studies distribution, production and consumption of goods and services. Economics is majorly divided into two primary branches, namely microeconomics and macroeconomics. The former refers to the study of individual agents, such as household, firms, buyers and sellers, their interactions and outcomes of those interactions. Macroeconomics is the study and analysis of the entire economy, taking into consideration issues like inflation, capital, economic growth, etc. This book traces the progress in the fields of business and economics and their relationship with each other. It highlights some of the emerging trends and applications. In this book, using case studies and examples, constant effort has been made to make the understanding of the difficult concepts of business and economics as easy and informative as possible, for the readers.