Environmental or external issues of managerial economics
What are the Environmental or external issues of managerial economics?
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It refers to the general business environment in which the organisation works. A study of economic environment should include: i. The types of economic system in the country. ii. The general trend in income, prices, production, employment, savings and investments iii. Trends in the working of financial institutions for example banks, financial corporations and insurance companies. iv. Magnitude and trends in foreign trade. v. Trends in labour and capital market. vi. Government economic policies like monitory policy, price policy and fiscal policy.
Define the going rate pricing briefly.
The entire given can be used to calculate average profit except: w) marginal profit minus marginal cost. x) total profit divided by quantity. y) average revenue minus average total cost. z) price minus average total cost.
Illustrates the opinion of Samuelson for explaining Law of Demand?
Describe the Long term Demand Forecasting.
States the Demand Forecasting in terms of production?
A government-supported literacy program provided from a firm which primarily employs unskilled labor is an illustration of an investment in: (1) human capital depreciation. (2) business paternalism. (3) specific training. (4) laissez-faire economics.
Illustrates the important areas of managerial economics as a tool for decision making?
Explain the way of Price Elasticity of Demand.
Economic efficiency for all consumption and production choices would guarantee getting the social objectives of: (w) equality of income distribution. (x) employment and educational opportunities for all. (y) enhanced environmental quality. (z) None of
demand has three essentials-damand+purchasing power+.???
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