Give brief description about economics, Managerial Economics

Assignment Help:

Economics is generally defined as the problem of how best to allocate limited resources, limited because needs are characterized as unlimited, but common sense tells us that rather than limited resources, there is an abundance of resources. The dissimilarity is one of perspective and this is core to any alternative understanding of economics. If needs are the focus, then of course resources are limited by definition, but if minimum requirements or essentials are used as the foundation, then resources are seen to be abundant. The difference is among a description and an explanation. A focus on needs or desires explains a market situation, while a focus on essentials or needs permits an explanation of choices to begin.

 


Related Discussions:- Give brief description about economics

Basis of wage claims, The Basis of Wage Claims The union's demand for ...

The Basis of Wage Claims The union's demand for higher wages is normally based  on one or more of the following four arguments: 1. The cost of living argument This is

What is demand theory, What is Demand theory: Demand theory relates to ...

What is Demand theory: Demand theory relates to the study of consumer behaviour. It addresses questions like what incites a consumer to buy a particular product, why do consume

Healthcare economics, I was given a few spreadsheets and asked to do an inc...

I was given a few spreadsheets and asked to do an income, balance and cash flow statement. It''s a lot of info and I have no idea what I''m doing

Mba assignment, what is the role of managerial economics in running a busin...

what is the role of managerial economics in running a business?

Market price , Normal 0 false false false EN-IN X-NON...

Normal 0 false false false EN-IN X-NONE X-NONE

Models of the firm, discuss the validity in zimbabwe of the grounds on whic...

discuss the validity in zimbabwe of the grounds on which the profit maximising model of the firm has been defended

Show the characteristics of monopoly, Q. Show the Characteristics of monopo...

Q. Show the Characteristics of monopoly? Let's summarise the main characteristics of monopoly as under: Cross-elasticity of demand for a monopoly product is zero in the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd