Explain the modern definition of economics
Explain the modern definition of economics?
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Prof. Samuelson gave this definition: Economics is the study of how people and society end up choosing, with/without the use of money to utilize scarce productive resources that might have alternative uses to make various commodities and allocate them for consumption among various persons or groups in society. Economics estimates the costs and benefits of making patterns of resources use better.
Describes the definition of Managerial economics according to Douglas?
Illustrates the demand schedules important for law of demand? Answer: The perception of law of demand may be explained along with the demand schedules are as follow:
When the supply and demand for a good both raise there will be rising within the: (1) market price. (2) equilibrium quantity. (3) quality of the good. (4) profits of a monopoly firm. (5) level of consumer satisfaction. Hello guys I
Critics of “credentialism” believe which firms making employment decisions tend to rely much heavily on: (1) personal contacts. (2) past experience. (3) personality testing. (4) job interviews. (5) formal training and education.
What is the meaning of managerial economics?
Explain the welfare definition of economics? Why is it criticized?
Explain the Exceptional Demand Curve.
What are the Functions and Responsibilities of managerial economist?
Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.
Illustrates the Importance of managerial economics?
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