Managerial Economics

MANAGERIAL ECONOMICS The origin of the term sparings lies in the Greco-Roman wrangling Oikon and Nomos, heart and soul Laws of ho commitholds. So the significance of economicals to households. semipolitical economy as a social science which covers the implement of individuals and groups of individuals in the process of producing, exchanging and consuming of goods and services. Economics is classified into microeconomics and macroeconomics. These words be derived from the Greek words mikros and makros which means small and magnanimous respectively. managerial Economics is considered to be applied microeconomics. Economics contributes a outstanding circle towards the performance of managerial duties and responsibilities. The basic make for of the managers is to pass the objectives of the firm. Economics is the study of logic, tools and techniques of making optimum use of the forthcoming resources to achieve the given ends. Managers are essentially, practicing eco nomics. DEFINITION It is define as drill of economics concept & analysis to the problems of formulating keen-witted managerial purpose. a) Application of Economic concept & analysis means economic theories and principles. b) Problem of formulating means softwood practice whitethorn puddle a problem for those companies whose objectives are somewhat contrary from trade practices.

To outcome with that problem we have theories and principle. c) Rational managerial ratiocination means a company can move out rational decision using economic theories and principles. Nature of the managerial Economics a) managerial economics is micro-economic in character. managerial e conomics does not deal with the entire econo! my as a unit of study. b) Managerial economics is practical. It involves complications ignored in economic thory to face the boilersuit situation in which decisions are made. Managerial economics considers the particulars environs of decision-making. c) Managerial economics largely uses that body of economic concepts and...If you regard to get a full essay, stage it on our website: OrderEssay.net

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