****Written According To New Actuarial Science Ct 07 Entrance Exam Pattern Of**** All Over India And UK All Sections Are ****Thoroughly Explained With**** Ample Short And Long Questions With Their Answers**** And Explanations As Well. More Then**** 2000+ Solved Problems ****10 Model Papers Also Included. ****CONTENTS**** (i) Appreciate the relevance of economics to the world of business . ****(ii) Discuss the workings of competitive markets .**** (iii) Discuss consumer demand and behaviour . ****(iv) Understand the importance of a firm's decision on product selection and marketing and advertising strategies**** (v) Gain a knowledge of the production function, costs of production, revenue and profit in order to understand a firm's price and output decisions****. (vi) Describe profit maximisation under perfect competition and monopoly. ****(vii) Describe profit maximisation under imperfect competition. ****(viii) Understand the role of a firm's growth strategy on its profitability and survival . ****(ix) Understand various pricing strategies that firms can adopt.**** (x) Understand the reasons for government intervention in the market.**** (xi) Understand the relationship between the government and the individual firm**** (xii) Understand globalisation and multinational business . ****(xiii) Understand the importance of international trade. ****(xiv) Understand the macroeconomic environment of the business. .**** (xv) Understand what is meant by the balance of payments and how exchange rates are determined. ****(xvi) Understand the role of money and interest rates in the economy**** (xvii) Understand what determines the level of business activity and how it affects unemployment and inflation**** (xviii) Understand how macroeconomic policies impact on businesses**** (xix) Understand how supply side policies impact on businesses.