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How does economic theory contribute to managerial decisions?"

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15y ago

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Who uses Alfred marshalls theory?

Alfred Marshall's theory, particularly his concepts of supply and demand, elasticity, and consumer surplus, is widely used by economists, policymakers, and business analysts. Economists apply his principles to understand market behavior and predict economic trends. Policymakers utilize his insights to craft regulations and economic policies that influence market efficiency and welfare. Additionally, business analysts use Marshall’s framework to evaluate market conditions and make strategic decisions.


How does one apply consumer demand management to real life situations?

One can apply consumer demand management to real life situations in a number of different ways. One way is to manage a business, as it would come it handy.


What do you understand as a business ethics and why is necessary apply it?

business ethics means tactics applied for more profit we have to apply business ethics to earn more money


What problems maybe involved in derivingand applying economic principles?

The problem of human input: The fact that human is unpredictable shows that it may not always work as the law states.External and unforeseen changes: This includes technological breakthroughs, natural disasters...Situational: Economic theory needs to be situational. While it may be appropriate to apply a particular theory into this situation, it may not be so in other situations.


A Do you believe that such economic principles apply in both private and public organizations?

The same economic principles should apply in both private and public. The same standards should apply to all dealings both private and public.

Related Questions

When to apply set theory in management?

Set theory can be applied to management when bookkeeping and for inventory purposes. It gives the manager way to simplify what has been sold and what revenue has been brought in.


Can you apply for business management without knowledge of mathematics?

Business management requires a degree of mathematics knowledge. The math required often deals with proper accounting.


Why did you decide to apply to business school?

Going to business schools helps you get a management position. You will be able demonstrate that you can manage people with a business degree.


Who uses Alfred marshalls theory?

Alfred Marshall's theory, particularly his concepts of supply and demand, elasticity, and consumer surplus, is widely used by economists, policymakers, and business analysts. Economists apply his principles to understand market behavior and predict economic trends. Policymakers utilize his insights to craft regulations and economic policies that influence market efficiency and welfare. Additionally, business analysts use Marshall’s framework to evaluate market conditions and make strategic decisions.


How does one apply consumer demand management to real life situations?

One can apply consumer demand management to real life situations in a number of different ways. One way is to manage a business, as it would come it handy.


where can I apply for a business grant?

where can I apply for a business grant


What job should you apply for went you have higher diploma in business management?

It mostly depends on the level of achievement being achieve by an individual in terms of business management. However, he/she can have the following jobs with of course, certain specific job descriptions and responsibilities. AgentCampus.com Here are the resources you can get to: http://www.payscale.com/best-colleges/jobs-for-business-management-majors.asp and http://jobs.monster.com/v-business-q-business-manager-jobs.aspx


Does the multiple selves theory apply to brand decisions for consumers?

does multiple selves theory apply to brand decisions for consumers? does multiple selves theory apply to brand decisions for consumers?


Where can you acquire small business grants in Nebraska?

Here is a list of a few places you can apply for a small business grant in the state of Nebraska. Nebraska Department of Economic Development, Nebraska Department of Revenue and Nebraska Business Financing.


Why did you take up business management?

I took up BS Entrrpreneurial Management because I know that the future heading with this course is really positive you can apply different positions in a company using the skills and knowledge you've learned as an entrep management.


where do i apply for small business grant?

where do i apply for a small business grant in oklahoma


How could apply the Breakeven to small business?

how could apply the " breakeven" to samll business???