Managerial Economics

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Managerial Economics

Managerial Economics:

Managerial economics is an integral part of traditional economics is applied science in the sense of a tool of managerial decision-making and solving the business problems as it is an integration of economic theory with business practice for the purpose of facilitating decision-making and forward planning by management Managerial economics is the study of economic theories, logics and tools of economic analysis that are used in the process of business decision-making Economic theories and techniques of economic analysis afe applied to analyse business problems, evaluate business options and opportunities with a view to arriving at an appropriate business decision.

 Definition of Managerial Economics :

Managerial economics is applied in decision-making, It is a special branch of economics bridging gap between theory and managerial practice. -

Haynes, Mote and Paul Managerial economics is concerned with the application concepts and economics problems of formulating rational decision-making. Managerial economics is the integration of economic theory with business practice for the purpose of fscilitating decision-making and forward planning by management. -Joel Dean -Spencer and Seigelmen Managerial economics consists of the use of economic modes of thought to analyse business situations. Hence, managerial economics is the process of application of economic principles, techniques, concepts etc. to solve the reel business problems. It is amapplied branch mainly concerned with the efficient allocation and utilisation of scarce resources The function of management is also the efficient direction of a business organisation. Thus, the problems of scarcity and choice are an important part of managerial decision-making. Managerial economics helps the management in efficient and economical utilisation of scarce resources of business firms. 

Characteristics: The characteristics of managerial economics are as follows : 

1. Managerial economics is microeconomic in character. Microeconomics is concerned with units of economics and it studies the concepts of individual units approach. 

2. Managerial economics is normative rather than positive. It is normative because it is concerned with what the management should do under given circumstances. It describes the goals of the organisation and then prescribes the ways to achieve them. Hence, it is prescriptive rather than being descriptive. 

3. Being microeconomic in character, managerial economics takes into consideration the macroeconomic phenomenon also, since it provides an understanding of the environment in which firms operate, such as business cycie, taxation policy, wages polices, pricing and distribution policies. 

4. The main aim of managerial economics is to help management in taking correct decisions and making forward planning. 

5. It is an extension of the theory of the firm or the economics of the traditional economic theory to the managerial arena. Thus, its scope is narrower than that of pure economic theory. 

Managerial economics is pragmatic and applied.  

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चित्र
भारत में बेरोजगारी के आंकड़े नेशनल सैंपल संघटन द्वारा एकत्रित एवं प्रकाशित किय जाते है।  विश्व में चीन प्रथम राष्ट्र है जिसने आधिकारिक रूप से पारिवारिक कार्यक्रम नियोजन की अपनाया  निगम कर कंपनियों की आय पर लगाया जाता है  भारत की पहली जनगणना 1872 में की गई थी। योजना आयोग का उपाध्यक्ष कैबिनट मंत्री का दर्जा प्राप्त व्यक्ति होता है । वित विधेयक द्वारा सरकार वर्ष भर राजस्व एकत्र करने की व्यवसथा करती है । India brand equity fund  की स्थापना  1956 में की गई थी। मल्होत्रा समिटी का गठन बीमा क्षेत्र में सुधार के लिए सिफारिश देने के लिए किया जाता है। माह विभाजन  का वर्ष शब्द जनसंख्या के सन्दर्भ देने के लिए 1921 से बढ़ती जनसंख्या से प्रयोग किया जाता है।  Dwcra ग्रामीण क्षेत्र में महिला और बाल विकास कार्यक्रम से अभिप्राय है। घाटे कि वित्त व्यवस्था का अर्थ आगमन से अधिक खर्च करना  सम्पत्ति की अवधारणा में मानवीय सम्पत्ति को फ्रीडमैन ने सम्मिलित किया था । प्रबल प्रयास सिद्धांत आर रोड़ान से सबांधित है । भारत की द्वितीय योजना सोवियत मॉडल पर आधारित है कृ...
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