Table of Contents

Preface Part A: Business and economics 1. The business environment and business economics 2. Economics and the world of business 3. Business organisations Part B: Business and markets 4. The working of competitive markets 5. Business in a market environment Part C: Background to demand 6. Demand and the consumer 7. Demand and the firm 8. Product, marketing and advertising Part D: Background to supply 9. Costs of production 10. Revenue and profit Part E: Supply: short-run profit maximisation 11. Profit maximisation under perfect competition and monopoly 12. Profit maximisation under imperfect competition Part F: Supply: alternative strategies 13. An introduction to business strategy 14. Alternative theories of the firm 15. Growth strategy 16. The small-firm sector 17. Pricing strategy Part G: The firm in the factor market 18. Labour markets, wages and industrial relations 19. Investment and the employment of capital Part H: The relationship between government and business 20. Reasons for government intervention in the market 21. Government and the firm 22. Government and the market Part I: Business in the international environment 23. Globalisation and multinational business 24. International trade 25. Trading blocs Part J: The macroeconomic environment 26. The macroeconomic environment of business 27. The balance of payments and exchange rates 28. Money and interest rates 29. Business activity, employment and inflation Part K: Macroeconomic policy 30. Demand-side policy 31. Supply-side policy 32. International economic policy Web appendix Key ideas Index