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This book titled ‘Business Economics’ to the students of management and commerce. This book has been carefully designed in line with the revised syllabus introduced under the National Education Policy-2020...

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Business Economics
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This book titled ‘Business Economics’ to the students of management and commerce. This book has been carefully designed in line with the revised syllabus introduced under the National Education Policy-2020 for First Year graduation students of Savitribai Phule Pune University, Pune, effective from the academic year 2024-25.
This book is also useful to the teachers who would otherwise have to prepare their lecturers from various sources particularly an attempt has been made to use simple and easily understandable language. Topics of the book are logically arranged in numbered paragraphs exactly according to the modified syllabus from 2024.
Really speaking we prefer and refer the standard books and collected new and latest references and information from innumerable good books, journals, bulletins, reports and research articles.

1. Basic Concept of Economics...................................7
1.1 Business Economics – Meaning, Nature, Scope and Importance
1.2 Concept of Micro and Macro Economics
1.3 Theory of Demand – Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand – Price, Income and Cross Elasticity, Demand Forecasting
1.4 Theory of Supply – Meaning, Determinants, Law of Supply and Elasticity of Supply
1.5 Cost of Production – Concept, Short Run and Long Run Costs, Average and Marginal Costs, Total, Fixed and Variable Costs

2. Forms of Market and Distribution.............................29
2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Monopoly, Duopoly, Oligopoly, Monopolistic Competition
2.2 Difference between Perfect Competition and Imperfect Competition
2.3 Price Discrimination
2.4 Distribution – Introduction, Classical Theory of Distribution – Rent, Wages, Interest and Profit, Marginal Productivity Theory of Distribution
2.5 Emerging Dimensions of Economics – VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear of Unknown and Unprecedented)

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