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Fundamental Business Economics, Second Edition provides the theory and practice of the fundamental principles of business economics.The book is organized into five sections. The first part, introduction to business practice, discusses the essential nature of business economic activity, the scientific method used in practicing business economics, and the interaction between the firm and its environment. Part 2 focuses on entrepreneurship and the management function. The basic founding considerations which may be approached from the angle of the economic principle, and which may be controlled by management are considered in Part 3. The fourth part elaborates the specialized business functions. The final chapter reflects on business economics as a science. It looks at the historical trends in the development of business economics concluding with business economics to be in a position among the natural and cultural sciences.Business researchers, economists, and students will find the book very insightful.