Managerial Economics

5 answers

Managerial economics helps in decision-making as it involves _______________

mathematics
logical thinking Correct
science
values

Managerial Economics is a__________________ dealing with effective use of scarce resources It guides the managers in taking decisions relating to the firm's customers, competitors,suppliers as well as relating to the internal functioning of a firm

math
civics
science Correct
communication

The use of ManagerialEconomics is not limited to profit-making firms and organizations; but it can also be used to help in ______________________ of non-profit organizations(hospitals, educational institutions, etc)

meditation
computation
decision-making process Correct
negotiation skills

This is the third question in solving issues using managerial economics

What goods and services should be produced and in what amount/quantities?
Who should consume and claim the goods and services produced by the firm? Correct
How to produce goods and services?

While microeconomics is the study of decisions made regarding the allocation of resources and prices of goods and services, ___________________ is the field of economics that studies the behavior of the economy as a whole (ie entire industries and economies)

boosted economy
recreational economy
mega economics
macroeconomics Correct