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Explain Economics verse Managerial economics

Explain Economics verse Managerial economics.

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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.

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