--%>

What are the various fields of Economics

What are the various fields of Economics? Explain.

E

Expert

Verified

A. Economies in the production: This arises term as follows:

Technological advantages and Advantages of separation of labour and specialization

B.  Economies in the marketing:

This facilitates with: Large scale purchase of inputs and Advertisement economies and Economies in large scale distribution as well as other large-scale economies.

C. Managerial economies: This achieves with: Specialization in management and Mechanization of managerial function.

D. Economies into storage and transport

Economies in transportation and storage costs occur form fuller make use of transport and storage facilities.

   Related Questions in Managerial Economics

  • Q : What are the types of price

    What are the types of price discrimination?

  • Q : Statements about Human Capital Which of

    Which of the given statements is not CORRECT: (w) Acquiring productive skills is known as investment in human capital. (x) General training increases a worker’s marginal productivity equally for many firms. (y) Specific training increases the productivity of the

  • Q : Substantial general training in firm A

    A firm which provides its workers along with substantial general training tends to: (1) retain such individuals by paying them the relatively highest wage premiums. (2) require workers to sign legal contracts of peonage and indenture. (3) increase wor

  • Q : Market supply of specialized labor A

    A supply of specialized labor tends to shrink while: (1) the social status of that field rises. (2) an increase in income expectations happens. (3) employment stability increases and training costs decrease. (4) wages rise into a field using similar s

  • Q : Investment in human capital in market

    Most economists would categorize the bulk of the funds spent upon your college education like: (1) an investment in human capital. (2) financial capitalization. (3) consumption. (4) specific training. (5) personal saving. Please gu

  • Q : What is Increasing Returns to scale

    What is Increasing Returns to scale?

  • Q : Where managerial economics treat as a

    Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.

  • Q : Substitution Effect within Supply of

    When wage rates rise above $25 per hour in this figure given below, in that case the: (1) worker works more diligently to ensure that she keeps her job. (2) employer pays an excessively high efficiency wage. (3) income effect exceeds the substitution

  • Q : Diminishing returns imply economic

    This is not true that the law of diminishing returns which it: (i) Consists applications in numerous areas outside economics. (ii) Is encountered in many ways in economics. (iii) Implies that continually increasing production ultimately entails increa

  • Q : Illustrates the steps in formulating

    Illustrates the steps in formulating pricing policies in details?