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State the Meaning of managerial economics
Managerial economics, used synonymously with business economics, is a study of economics that deals with the application of microeconomic analysis to decision-making methods of businesses and management units. It acts as the through media among economic theory and pragmatic economic
Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a) Own price of the product This
Interaction of supply and demand, equilibrium price and quantity In perfectly competitive markets the market price is determined by the interaction of the forces of demand and
Q. What is the economic role of government? What are the roles? Meaning: economic role is the role played by the government in uplifting the economy. The important roles: 1.
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
Q. Describe Rule based forecasting? Rule based forecasting: Rule-based forecasting (RBF) is a proficient method which incorporates judgment as well as statistical techniques
What are terms included in oligopoly? Oligopoly includes: • The meaning of oligopoly, and why it arises • Collusion • Game theory, particularly the concept of the pris
Long-Term Policies One long term option of tackling balance of payments deficit is export promotion . In the long run this is the best method of improving a balance of payme
Pragmatic Managerial economics Managerial economics is pragmatic. In pure micro-economic theory, analysis is performed, based on certain exceptions, which are far from reality
Diminishing Marginal Utility Diminishing marginal utility as well is to be held responsible for the rise in demand for a product when its price declines. When an individual pur
in the context of an environment of business,state briefly the implication of (1) Ee>1.....(2)Ee=1......(3)Ee=0.......(4)Ee
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