Micro Economic concepts and theories are widely applicable in managerial and business decision making. Managers of business organization involved in the production of goods and services have to make decision on: What goods and services to produce? How to produce? Whom to produce? Where to produce? They have to determine prices of their product. Likewise, they have to pay to the suppliers of factors of production like land, labor, capital and basic raw materials. The study of microeconomics helps managers and entrepreneurs to make decision on these various issues.
Realizing this fact, like various Universities of the world, the Universities of Nepal offering Management Education also offer courses on microeconomics and macroeconomics in the undergraduate level of business studies. The present book Microeconomics for Business is prepared for the First Year as per the new syllabus of BBS Four Years Programme of Tribhuvan University. We have explained each of the topics in great detail using sound theoretical explanation with examples as far as possible. We have included numerical problems with solution, three different types of model questions: conceptual, descriptive and analytical are added at the end of each chapter. We have tried to make the book student friendly with full coverage of the designed syllabus. We hope that the book will also be equally useful for other Bachelor Level Program on Microeconomics of other Universities of Nepal.