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Tuesday, 19 June 2018

Managerial Economics - A brief Description

Managerial Economics deals with the application of economics which applies to the real business activities for getting desired results.
In contemporary world there is lot of competition in the market. There are thousands of rivals in the market. Due to this a businessman plans his strategies to take control of market.
Managerial economics includes the following subject matter:

  1. Forecasting of Demand
  2. Production theory
  3. Methods of pricing
  4. Law of demand and elasticities
  5. Micro Planning, budgeting, cost benefit analysis.

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