--%>

Explain Economics verse Managerial economics

Explain Economics verse Managerial economics.

E

Expert

Verified

Difference between Economics and Managerial Economics:

Economics:

1. Dealing micro and macro both aspect
2. Positive and normative both science.
3. Deals along with theoretical aspects
4. Study the firm and individual both.
5. Extensive scope

Managerial Economics:

1. Dealing simply micro aspects
2. Simply a normative science.
3. Deals along with practical aspects.
4. Study the problems of firm just. And
5. Narrow scope.

   Related Questions in Managerial Economics

  • Q : Moral Hazard and Efficiency Wages

    Firing a worker who regularly goods off and calls in sick may not resolve the moral hazard problem of shirking when: (w) there is a high probability which the worker will sue the firm. (x) the local unemployment rate is high. (y) average worker productivity is low. (z

  • Q : Aggregate Supply of Labor Labor

    Labor supplies for the economy as an entire are LEAST determined through: (w) labor unions. (x) wage rates and structures of wages. (y) education and training of the work force. (z) labor force participation rates. Hey friends plea

  • Q : Demand for labor in competitive firm

    Demand for labor of this purely competitive firm in given figure corresponds to: (1) line segment ab. (2) line segment bd. (3) line segment be (4) line segment df. (5) line segment dg.

    Q : Find demand when Supply and Demand

    Suppose that the auto started began at the intersection of S0 and D0, and then Congress passed a main personal income tax cut. So, how will it affect the auto market?: (w) No change. (x) Demand shifts to D2. (y) Demand shifts to D

  • Q : Hiring additional workers exceeds the

    One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x

  • Q : Explain about the signaling Signaling :

    Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex

  • Q : Economic Efficiency to make one person

    When an economic alteration makes one person better off whereas no one else is affected, then this is: (w) efficient to make the change. (x) traumatic to make the change. (y) neither good nor bad for society. (z) strictly a positive value judgment to

  • Q : Explain short term Demand forecasting

    Explain short term Demand forecasting.

  • Q : Explain the business decision based

    Explain the business decision based upon income elasticity.

  • Q : Explain Economics verse Managerial

    Explain Economics verse Managerial economics.