The goals are:
1) Profit Maximisation
2) Cost minimisation
3) Technological Advancement
4) Return on investment
5) Customer Satisfaction.
Bas that's enough......
There's a lot of difference between Internal Economics And Managerial Economics. Internal Economics: It is economics related to an individual firm...where it is the practice of day to day operations in medium of puting various amount of inputs for a desireable output. Managerial Economics:It is the economics which is the practice of managing the firm,by divsion of labour and application of certain principles of management in day to day work.
Difference between economics & managerial economics 1) Managerial Economics is micro in character Pure Economics is both micro and macro in character 2) Managerial Economics study only practical application of the Economic principle to the problem of firm Pure Economics deals with the study of principles itself 3) Managerial Economics deals with the Economic problems of the firm while Pure Economics deals with Economic problems of both firm and individuals 4) Managerial Economics deals with profit theory only Pure Economics deals with all distribution theories like rent, wages, interests, and profits.
is anything that a firm uses to produce a produt
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a. An individual firm
C) What is the goal of the firm? Discuss how to measure achievement of this goal?
C) What is the goal of the firm? Discuss how to measure achievement of this goal?
The most appropriate goal of a firm depends on the industry. In very general terms, a firm is a business with a goal of making money. Another major goal of a firm could be to help people or benevolence of some sort.
The most appropriate goal of a firm depends on the industry. In very general terms, a firm is a business with a goal of making money. Another major goal of a firm could be to help people or benevolence of some sort.
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The Goals of a firm depends upon the nature of the business its doing. The goal of the firm show the path towards the ultimate destination,a firm without a goal is just like a boat in the ocean,and floating to no where
There's a lot of difference between Internal Economics And Managerial Economics. Internal Economics: It is economics related to an individual firm...where it is the practice of day to day operations in medium of puting various amount of inputs for a desireable output. Managerial Economics:It is the economics which is the practice of managing the firm,by divsion of labour and application of certain principles of management in day to day work.
Difference between economics & managerial economics 1) Managerial Economics is micro in character Pure Economics is both micro and macro in character 2) Managerial Economics study only practical application of the Economic principle to the problem of firm Pure Economics deals with the study of principles itself 3) Managerial Economics deals with the Economic problems of the firm while Pure Economics deals with Economic problems of both firm and individuals 4) Managerial Economics deals with profit theory only Pure Economics deals with all distribution theories like rent, wages, interests, and profits.
Because there is no firm predictive use for it. Economics is based almost entirely on experiences, personal and historical.
is anything that a firm uses to produce a produt
profit maximization &wealth maximization of shareholders.
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