Business economics chapter 2

These concepts are developed in the next four chapters which look in more detail at aggregate demand and supply, employment and unemployment, inflation and price stability and macroeconomic policy.
Global Business and Economics We complete our journey through Business Economics by looking at the impact of doing business globally.

However, for a better understanding of the concepts, it is important to understand the two major parts of economics- microeconomics and macroeconomics.
Microeconomics is defined as the study of the decision-making process of individual units with respect to the proper allocation of their limited resources.

The subject of Business Economics is a wide study.
The study is mainly concerned with the economics of the business.
Business Economics particularly bridges down the gap of theoretical knowledge of economics and practical application of the same in the conduct of business.