Develop an understanding of economics applied to the world of business. Economics for Business, 9th Edition is the ideal textbook for students studying Economics as part of a Business Studies degree or diploma. Clear, engaging, and packed with useful features, the text introduces the key principles of economics, illustrating how they can be used to understand real business problems and aspects of the business environment. The new, thoroughly updated edition reflects recent events that have shaken the business world. These include the Covid-19 pandemic, Brexit, and rampant inflation caused first by supply-chain problems after global lockdowns and then by the surge in energy and food prices following the invasion of Ukraine. Each chapter includes topical examples, news stories, and case studies from real businesses to explain and illustrate key economic concepts, as well as activities, questions, and useful summaries to help you check your understanding. Access the free student website which accompanies this book for additional learning support, including animated explainers of key economic models, extra case studies and answers to in-text questions. Pair this text with MyLabiEconomics MyLabi is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab Economics personalises the learning experience and improves results for each student. If you would like to purchase both the physical text and MyLabi Economics, search for: 9781292440255 Economics for Business,9th Edition OMyLab via BundleO which consists of: O Print textbook O eBook O MyLabiEconomics
About the authors Preface Publisher's acknowledgements Part A BUSINESS AND ECONOMICS The business environment and business economics Economics and the world of business Business organisations Part B BUSINESS AND MARKETS The working of competitive markets Business in a market environment Part C BACKGROUND TO DEMAND Demand and the consumer Behavioural economics of the consumer Firms and the consumer Part D BACKGROUND TO SUPPLY Costs of production Revenue and profit Part E SUPPLY: SHORT-RUN DECISION MAKING BY FIRMS Profit maximisation under perfect competition and monopoly Profit maximisation under imperfect competition Alternative theories of the firm Part F SUPPLY: ALTERNATIVE STRATEGIES An introduction to business strategy Growth strategy The small-firm sector Pricing strategy Part G THE FIRM IN THE FACTOR MARKET Labour markets, wages and industrial relations Investment and the employment of capital Part H THE RELATIONSHIP BETWEEN GOVERNMENT AND BUSINESS Reasons for government intervention in the market Government and the firm Government and the market Part I BUSINESS IN THE INTERNATIONAL ENVIRONMENT Globalisation and multinational business International trade Trading blocs Part J THE MACROECONOMIC ENVIRONMENT The macroeconomic environment of business The balance of payments and exchange rates The financial system, money and interest rates Business activity, unemployment and inflation Part K MACROECONOMIC POLICY Demand-side policy Supply-side policy International economic policy Web appendix Key ideas Glossary Index
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