--%>

Difference between economics and managerial Economic

What is the difference between economics and managerial Economic?

E

Expert

Verified

Economics Vs Managerial economics.

1. Economics is dealing with both micro and macro aspects whereas managerial economics is dealing only with micro aspects.
2. Economics is both positive and normative science whereas managerial economics is only a normative science.
3. Economics is dealing with theoretical aspects whereas managerial economics is dealing with practical aspects.
4. Economics is study of both the firm and individual whereas managerial economics Studies the problems of firm only.
5. Economics wide scope whereas managerial economics have narrow scope.

   Related Questions in Managerial Economics

  • Q : Requirements for Food production I have

    I have a problem in economics on Diminishing Returns. Please help me in the following question. In a completely employed food-and-clothing economy, equivalent successive raises in food production will ultimately need successively: (i) Larger increases

  • Q : Describe the term Incremental Revenue

    Describe the term Incremental Revenue in details.

  • Q : Explain the term business cycle in brief

    Explain the term business cycle in brief.

  • Q : Equilibrium prices and quantities

    French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su

  • Q : Concept of marginal costing In what

    In what condition the concept of marginal costing basically applied?

  • Q : What are differences between

    What are the differences between differential cost and explicit cost?

  • Q : Linear supply curves and elasticity

    Along two supply curves which are straight lines by the origin, the price elasticity of supply as: (w) is below 1 for all prices and quantities upon both curves. (x) is less for a given quantity beside the steeper curve. (y) equals on

  • Q : Illustrates the role of cost in pricing

    Illustrates the role of cost in pricing?

  • Q : Screening job hiring decisions The

    The concept that employers artificially utilize formal training and education while screening job applicants to make hiring decisions is termed as: (w) nepotism. (x) formalism. (y) human capital discrimination. (z) credentialism.

    Q : Concavity in production possibilities

    Concavity (or bowed-out shapes) in production possibilities frontiers is described least fine by: (i) The law of diminishing returns. (ii) Resources being unevenly suited for various forms of production. (iii) Rising opportunity costs. (iv) Non-neutra