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Role of managerial economic in decision making?
The role of managerial economics in decision making is to help in the analysis of economic trends which will be used in making critical decision. This will focus on past, present and future economic patterns.
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.
Critically assess the role of managerial economics as a cross functional managerial decision tool?
do your own research dude! sickeez!
Scope and importance of managerial economics?
Business managers need to know about macroeconomics because firms operate in and are influenced by the behavior of the overall economy. Factors such as interest rates, employment, inflation, money supply, etc., affect the business environment and financial conditions in general, so firms must address macroeconomic issues in their planning and management strategy. Macroeconomic forecasts and strategies are more important for large firms than for small businesses.
How did economics play a role in European colonies in the 19th century?
Well, imperialism played a role. but the economy played a role.
Why is the workers role unique in the game of economics?
The workers role is unique in the game of economics since they are directly involved. They are the ones who will manufacture, market, sell the products in an economy.
What is the role of managerial economics in lpg?
Managerial economics plays a crucial role in the liquefied petroleum gas (LPG) sector by facilitating informed decision-making regarding pricing, production, and market strategies. It helps firms analyze demand and supply dynamics, optimize resource allocation, and assess the impact of government regulations and market competition. Additionally, managerial economics aids in forecasting trends and evaluating investment opportunities, ensuring that LPG companies remain competitive and profitable in a rapidly evolving market. Overall, it integrates economic theory with business practices to enhance operational efficiency and strategic planning.
Role of managerial accounting?
Managerial accounting play a vital role in managers life,Life is veyi easy due to managerial accounting
Economics is important in business studies critically examine this statement?
critically examine the role of businesss economy and insurance
Role of cost accounting in managerial decision making?
Role of cost accounting in managerial decision making?"
What are the three types of managerial roles?
The three types of managerial roles from Henry Mintizberg are informational role,interpersonal role and decisional role.
What is the role of entrepreneurship in economics?
refers to decicion making, managing money and risk taking in an economy.
