Contents 

1. Introduction

1.1 Meaning, Nature and Scope of Business Economics

1.2 Difference between Micro and Macro Economics

1.3 Tools for Analysis

1.4   Goals of Firms

2. Demand Analysis

Introduction

2.1 Concept of Demand

2.2 Elasticity of Demand, Types of Elasticity

2.3 Consumer Behaviour

2.4 Demand Estimation and Demand Forecasting

3. Production and Cost Analysis

Introduction

3.1 Production Function – Meaning

3.2 Law of Variable Proportions

3.4 Law of Returns to Scale

3.5 Internal and External Economies and Diseconomies

3.6 Cost Analysis – Types of Costs

4. Revenue Behaviour

Introduction

4.1 Meaning and Importance of Revenue Concepts

4.2 Total Revenue (TR), Average Revenue (AR), Marginal Revenue (MR)

4.3 Relationship between TR, AR and MR

5. Pricing under various market conditions

Introduction

5.1 Perfect Competition – Features and Equilibrium

5.2 Monopoly – Features and Equilibrium, Price Discrimination

5.3 Monopolistic Competition – Features and Equilibrium

5.4 Oligopoly – Features

6. Factor Pricing

Introduction

6.1 Marginal Productivity Theory of Distribution

6.2 Rent

6.3 Wages

6.4 Interest

6.5 Profit