![]() Managerial economics applies microeconomic theories and techniques to management decisions. Some of the main characteristics of business economics are as follows: 1. Thus, managerial economics involves analysis of allocation of the resources available to a firm or a unit of management among the activities of that unit. It is more limited in scope as compared to microeconomics. Managerial Economics is micro-economic in character. ![]() Definition: Managerial economics is a stream of management studies which emphasises solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics. Macroeconomics deals with the performance, structure, and behavior of an economy as a whole. ![]() managerial economics course, a fair knowledge in the basic concepts of economics, mathematics and econometrics is a prerequisite. Characteristics of managerial economics pptĪDVERTISEMENTS: Let us make an in-depth study of utility:- 1.
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