About this document
Scope of Managerial Economics Explained by Sarita Sankla is a document available to read on EtoBox.
Managerial economics aims to support management in decision making and planning by applying economic principles. It considers production costs, demand, price, and profit to help management utilize scarce resources efficiently and select the most feasible alternative. Managerial economics is both normative and applied, as it not only describes organizational goals but prescribes means to achieve them. It has the scope of demand theory, production theory, exchange theory, profit theory, and capital/investment
- Author
- Sarita Sankla
- Language
- EN