Part I – Fundamental Concepts – Business Environment

PART I: Fundamental Concepts

Chapter 1: The Functioning of an Economy: Basic Concepts

Chapter 2: National Income

Chapter 3: Business and Its Environment

Chapter 4: Natural Resources

Chapter 5: The Technological Environment

Chapter 6: Human Resource Development

Chapter 7: India's Population and Its Impact on the Economy

Chapter 8: Capital Formation, Savings and Investment

Part I presents an introduction to the subject matter that is dealt with in depth in subsequent parts. Certain basic concepts of economics are discussed to help students who are not familiar with economics grasp them easily and understand their usage in different contexts. The other topics in this part will help students familiarize themselves with the theoretical background of the policies and practices followed in India's economy. The study of national income is central to this discussion. Further, the available resources that help or hinder the country to improve its size and growth are also discussed.