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Definitions from the Web

Mnagerial Economics

Description:

Mnagerial economics refers to the application of economic principles and methodologies in the decision-making process within organizations. It combines economic theory with business practices to help managers make informed decisions regarding resources allocation, pricing strategies, and market analysis.

Senses:

Sense 1: Academic Discipline

In this sense, managerial economics is an academic discipline that explores the microeconomic analysis and decision-making techniques used by managers. It encompasses topics such as demand and supply analysis, cost analysis, production and pricing decisions, and market structure analysis.

Example sentence: The MBA program includes several core courses on business finance, marketing, and managerial economics.

Sense 2: Application in Business

Mnagerial economics can also refer to the practical application of economic principles in managing business operations. It involves optimizing limited resources while considering factors such as market demand, competition, and pricing strategies.

Example sentence: The company's decision to increase the product price was based on careful analysis of market trends and managerial economics.

Related Products:

Explore these books on managerial economics available on Amazon:

• Managerial Economics: Applications, Strategies, and Tactics
• Managerial Economics & Business Strategy
• Managerial Economics: Foundations of Business Analysis and Strategy