0
What else can I help you with?
What is the managerial use of production function?
In microeconomics, a production function asserts that the maximum output of a technologically determined production process is a mathematical production of input factors of production.
What is the Summary of lean production in managerial accounting?
lean production is a business process to reduce the cost only. lean production is a business process to reduce the cost only.
How operational and managerial activities related to IT?
IT software programs help monitor production line and personnel activities.
Who possesses the factors of production?
the entrepreneur possesses all other factors of production because he performs managerial functions.which include risk bearing,employment of labour,he provides the necessary capital needed for production.
What is the role of managerial economics?
Managerial economics is a branch of economics this used in conjunction with business economics. It deals with microeconomics with a focus on helping a business determine strategy and make decisions about operations, pricing, production, and risk investments.
Explain the forward planning of managerial economics?
A method for determining a production schedule by beginning with the production start date and workingforward to determine the production completion date.In this role, you will be responsible for managing the monthly planning schedule, prioritizing key item production and maintaining a forward-looking demand and production...
What do you mean by managerial economics and what is science?
Managerial economics applies economic theory and methods to business and administrative decision making. Managerial economics prescribes rules for improving managerial decisions. Managerial economics also helps managers recognize how economic forces affect organizations and describes the economic consequences of managerial behavior. It links traditional economics with the decision sciences to develop vital tools for managerial decision making. This process is illustrated in Figure 1.1. Managerial economics identifies ways to efficiently achieve goals. For example, suppose a small business seeks rapid growth to reach a size that permits efficient use of national media advertising. Managerial economics can be used to identify pricing and production strategies to help meet this short-run objective quickly and effectively
define managerial economics?
Managerial economics is an applied field of economics that focuses on the use of economic analysis and techniques to solve business decisions. It combines economic theory with managerial practice and focuses on the microeconomic aspects of an organization, such as demand analysis and pricing, production costs, and investment decisions. Managerial economics applies microeconomic analysis to specific decisions in order to optimize outcomes and maximize profits. It also considers the macroeconomic environment in which a business operates, such as global economic trends and government regulations. Managerial economics provides a framework for understanding how businesses interact with their environment and make decisions that will impact their long-term success.
Classification of inputs in economics?
-these are inputs that do not change with the volume of production.This means, wheter you produce or not, these factors of production are unchanged. -these inputs change in accordance with the volume of production. NO production means NO variable inputs, while more production means more variable inputs. -sage- :P e-add: sage.ronquillo@yahoo.com
What is production and cost analysis in managerial economics?
According to Prof.Stigler the production function "is the name given to the relation ship between the rates of input and the rate output ".More precisely, it refers to maximum quantity of output that can be secured from the minimum quantities of inputs.
What was Vagit Y. Alekperov's management style?
Alekperov combined two managerial techniques, blending a capitalist-style attention to production margins with a socialist-style attention to workers.
Is all wine kosher?
No, not all wine is kosher. Kosher wine is produced in accordance with Jewish dietary laws, which include specific requirements for ingredients and production processes.
