How economics contributes to managerial functions, Managerial Economics

Assignment Help:

How economics contributes to managerial functions

However economics is variously defined, it's basically the study of logic andtechniques and tools, to make optimum use of available resources to attain the given ends. Economics affords analytical techniques and tools that managers require to achieve the goals of the organisation they manage. So a working knowledge of economics, not essentially a formal degree, is crucial for managers. Managers are basically practicing economists.

 


Related Discussions:- How economics contributes to managerial functions

Describe the meaning of managerial economics, MEANING OF MANAGERIAL ECONOMI...

MEANING OF MANAGERIAL ECONOMICS Managerial economics which is used synonymously with business economics is a branch of economics which deals with application of microeconomic ana

Ramsey pricing in detail, Hi Could you please help me with " Ramsey pricing...

Hi Could you please help me with " Ramsey pricing in detail " as I have an assignment.

Time factor for determinants of demand, Q. Time Factor for Determinants of ...

Q. Time Factor for Determinants of Demand? Price-elasticity of demand depends moreover on the time that consumers take to adjust to a new price: longer the time taken, greater

Mixed economy, The Mixed Economy There are no economies in the world w...

The Mixed Economy There are no economies in the world which are entirely 'market' or planned, all will contain elements of both systems. The degree of mix in any one econom

Bank rate , Bank Rate Bank rate is the rate at which the central bank ...

Bank Rate Bank rate is the rate at which the central bank gives loans to the commercial banks against the security of government and other approved first class securities. In

New york offers the payout, Lots of states have scratch offs with various d...

Lots of states have scratch offs with various different monetary payoffs. For example, the "$500 a week for life" in New York offers the payout and odds structure noted below.

Stabex, STABEX The STABEX scheme was designed to stabilize earnings fr...

STABEX The STABEX scheme was designed to stabilize earnings from exports of the African, Caribbean and Pacific (ACP) countries to the Community.  It covered seventeen agricult

Balance of payments - reason for protection, Balance of Payments Perha...

Balance of Payments Perhaps the most immediate reason for bringing in protection is a balance of payment deficit.  If a country had a persistent deficit in its balance of paym

Distinguish between moral hazard and adverse selection, Question: i) T...

Question: i) The manager of Top Rock Company is introducing a new product that will yield $200 millions in profits if the economy does not go into recession. However, if a rec

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