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This book Business Economics has been written for the use of the students preparing for UG and PG examination of Indian Universities. This book will also be found very useful for the various competitive examinations. In a subject as extensive as that of Economics, it is inevitable that no single volume however bulky it may be can be adequately cover the whole range of topics. Economics, being a social science, has the basic function of studying the ways in which people, households, firms and nations maximize their scarce resources and opportunities. This is known as maximizing or optimizing behavior in economic terms. Thus, optimisation means to select among the best available options with the sole objective of maximizing profits from the available resources. Economics, therefore can be termed as a social science which studies human behavior with respect to optimisation of available resources to accomplish the given desires and wants.