Annotation
In business, administration consists of the performance or management of business operations and thus the making or implementing of major decisions. The goods may be Consumer goods like cloth, shoes, pens etc. or producer goods like machinery or it may take the shape of services like the supply of electricity, water, gas, transportation of goods, etc. The activities which are involved in the production or distribution of goods and services for economic motive are a part of business. An economic system is the system of manufacturing products and services, distributing the goods and services, and consumption of goods and services. Whenever there are two persons making a trade, it is an economic system. The knowledge about the working of the economy, price system, market structure, factors of production, pricing of factors etc. are of immense value for student in their higher study. This book is a determined attempt to furnish up-to-date knowledge of business economics in a simple and lucid manner.
