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Managerial economics bridges the gap between economic theory and practice
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
Marketing is impacted by influences outside the business control that constrain the organizations ability to manipulate its marketing mix. These environmental included (a) competi
In what conditions might you (1) increase or (2) decrease the amount of supervision specified to a team member? Where a quality problem has been distinguished in an individual’
First-in First-out Method (FIFO) A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an elec
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The problem with the above method crops up when we want to compare two or more dissimilar (different sized) projects. A mega project may yield a very large NPV sum, whereas a mini
How can trade Liberalisation mean eliminating barriers? Trade liberalisation is the removal of trade restrictions for example tariffs, quotas and non-trade barriers is unsynch
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the
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