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Concept of Managerial EconomicsThe discipline of managerial economics deals with characteristics of economics and tools of analysis that are used by business enterprises for decision-making. Industrial and Business enterprises have to undertake varied decisions that entail managerial issues and decisions. Decision-making can be defined as a process where a specific course of action is chosen from some alternatives. This demands an unclouded perception of the environmental and technical conditions thatare integral to decision making. The decision maker should possess a thorough knowledge of aspects of economic theory and its tools of analysis.
Paper Money Due to the risk of theft, members of the public who owned such metal money would deposit them for safe keeping with goldsmiths and other reliable merchants who
Objective of Fiscal Policy As an instrument of macroeconomic policy, the goals of fiscal policy are likely to be different in different countries and in the same country in dif
The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo
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#quest Describe the oligopoly market structure and give some examples.ion..
Arc Elasticity Is the average elasticity between two given points on the curve, i.e. Because of the negative relationship between price and quantity demanded, pr
Let there be two consumers A and B, each buying at most two units of a good. A values having one unit at £10 and having two units at £12 whereas B values having one unit at £8 and
Planned Economy Is a system where all major economic decisions are made by a government ministry or planning organisation. Here all questions about the allocation of resources
Explain how a product would reach equilibrium position with the help of -iso-quants and iso-cost curve.
discuss baumols dynamic models
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