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State the Basis of business policies
Managerial economics is the founding principle of business policies. Business policies are prepared based on studies and findings of managerial economics that cautions the management against potential upheavals in national along with international economy. So managerial economics is helpful to management in its decision-making process.
discuss baumols dynamic models
The Historical development of money For the early forms of money, the intrinsic value of the commodities provided the basis for general acceptability : For instance, corn, s
Factors affecting the size of National Income The size of nation's income depends upon the quantity and quality of the factor endowments at its disposal. A nation will be ri
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and
The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
williamson''s model describe
discuss the significance of managerial economics in regards to business strategies employed by business entities currently operating in the global economy
when the data is descrete and incremental changes is measurable, what is it?
INTERNATIONAL TRADE Definition It is the exchange of goods and services between one country and another. International Trade can be in goods, termed visibles or in servi
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