MEFA 2 Marks Questions and Answers
MEFA 2 Marks Questions and Answers 1) Define managerial economics? a) The integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management (Spencer ) The managerial economics is the application of economic theory and methodology to business administration practices ( Brigham and Pappas ) 2) What are the main areas of managerial economics? a) The main areas of applications in managerial economics include demand decision, input output decision, price output decision, profit related decision, investment decision and economic forecasting and forward planning 3) What is the meaning of micro and macro economics? a) Micro economics is the study of ...