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A, INDIA - 673 635 409 School of Distance Education UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION Study Material COMPLEMENTARY COURSE I SEMESTER B.COM/BBA Managerial Economics Prepared by: Module I, II, V(A) : Sri. M.V. Praveen, Asst. Professor, Dept. of Commerce, Govt. College Madappally. Module III, IV & V (B) : Sri. Vineesh A.K., Assistant Professor, Department of Commerce, Govt. College, Madappally. Edited & scrutinized by : Dr.K.Venugopalan, Associate Professor, Department.
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Diseconomies FAQ
Managerial economics is the application of various economic measures, policies, principles, tools, methods, and theories to enable decision-making and problem-solving. It highlights techniques for efficient utilization of financial, human, and material resources—so that profits can be maximized.
Managerial economics assist the management in predicting various economic such as cost, profit, demand, capital, production, price etc. As a business manager has to function in an environment of uncertainty, it is imperative to anticipate the future working environment in terms of the said quantities.
Adam Smith's importance to the economics discipline is unquestionable. Indeed, he is commonly known as the “father of economics”.
The most important function in managerial economics is decision-making. It involves the complete course of selecting the most suitable action from two or more alternatives. The primary function is to make the most profitable use of resources which are limited such as labor, capital, land etc.
This course provides an overview of economic tools and analytic approaches available to the manager for business decision making. It includes such topics as pricing, forecasting, demand analysis, production and cost analysis, and macroeconomic policy as it affects the business environment.
Managerial economics is a branch of economics involving the application of economic methods in the organizational decision-making process. Economics is the study of the production, distribution, and consumption of goods and services.
- Managerial economics is a science that helps to explain how resources such as labor, technology, land, and money, can be allocated efficiently. As such, managerial economics focuses on decisions individuals make.
Managerial economics is concerned with the analysis of finding optimal solutions to decision making problems of businesses/ firms (micro economic in nature). 2. Managerial economics is a practical subject therefore it is pragmatic.
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MANAGERIAL ECONOMICS Study material COMPLEMENTARY COURSE For I SEMESTER B.COM/BBA. (2011...
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