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For the twosemester course in principles of economics. Principles of business economics, 2006, 421 pages, joseph g. Nellis is professor of international management economics at cranfield school of management, cranfield university. It considers strategic implications of economic theories and principles on business decisions. Land refers to the physical space on which production takes place, as well as the natural resources found under it or on it, such as oil, iron, coal, and lumber. Define the meaning of economics discuss the concept of business economics identify the differences between economics and business economics describe microeconomics and macroeconomics explain the laws of economics discuss economic static and dynamics.
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