--%>
Assignment Help - homework help

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 : Income effect of wage rate The income

    The income effect of a small modify in the wage rate is approximately identical to the substitution effect for this worker point: (w) point a. (x) point b. (y) point c. (z) point d. Hello guys I wa

    		•
  • Q : Explain about perfectly price elastic

    I have a problem on perfectly price elastic supply curve that is given below: A perfectly price elastic supply curve is: (w) vertical. (x) horizontal. (y) positively sloped. (z) negatively sloped.

    Q : Regression-Correlation statistical

    Illustrates the Regression and Correlation statistical method of Demand Forecasting?

    		•
  • Q : Supply of Labor The firm in this

    The firm in this illustrated graph is clearly: (1) price taker in the sale of its output because of the shapes of the VMP and MRP curves. (2) price taker in the purchase of labor when this can hire as several workers as this chooses at roughly of $13 per hour. (3) mon

    		•
  • Q : What are the various fields of Economics

    What are the various fields of Economics? Explain.

    		•
  • Q : When is our society possibly operating

    Our society is possibly operating inefficiently when: (w) we could grow more pecans by producing fewer walnuts. (x) asthmatics would gain when all pollution were removed. (y) whole medical costs would be lower and people would be healthier when we dev

    		•
  • Q : What are the tools and techniques for

    What are the tools and techniques for demand estimation?

    		•
  • Q : Free labor in competitive firm When

    When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers.

    Q : What are the Methods of Demand

    What are the Methods of Demand Forecasting?

    		•
  • Q : Profit Maximization in Labor Market and

    As a firm is a pure competitor in both the labor market and during the sale of its product, this will hire labor where: (w) profit is maximized. (x) marginal revenue product = marginal resource cost. (y) wage = value of the marginal product. (z) All o

    		•