Hi this is his role is to make sure the company makes profit
1. Being a manager, why should you have some basic understandings about economics?
Economics are important because understanding them helps managers make decisions. The more managers understand economics, the better they will be at pricing products and offering salaries to their employees.
In managerial economics, managers in depth analyze all the economic situation of the country. After the in depth analysis they take the decisions. In this way economics is integrated with decision making.
What are the determined factors of price elasticity of demand
Everyone studying Economics.
1. Being a manager, why should you have some basic understandings about economics?
Research is useful in economics to know the need of the consumer.
Economics are important because understanding them helps managers make decisions. The more managers understand economics, the better they will be at pricing products and offering salaries to their employees.
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What are important features of organizations that managers need to know about in order to build and use information systems successfully.?
Organizations need management accounting so that managers can know how their departments are performing. Without managerial accounting, managers will be operating in the dark.
library or information managers needs to plans, so that they will know the step of planing on their services,
Managers must know how to coordinate people and other resources to achieve the organization's goals and objectives. The resources in total are, material, human, financial, and informational resources.
what skills do managers need
because there are projects that include statistical methods.
he needs to know economics and politics
Managerial economics is pragmatic since it is practical subject. It prevents abstracts issues of economics theory and help in solving complications that are not covered by economics theory. Thus it helps to analyze the situations in which managers take decision.