Managrial economic must consider the particular environment of
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In such a changing environment, sound economic analysis becomes all the more important as a ... The goals of the particular business organization must then be clearly spelled out
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Managerial economics must consider the particular environment of uncertainty.
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- The managerial economist uses their ‘analytical skills’ and ‘highly developed techniques’ in solving complex issues and management in solving ‘complex issues’.
- They use their skills for understanding the economy and for successful ‘decision-making’ and future advanced planning.
- ‘Managerial economics facilitates good’ and result in oriented ‘decisions under conditions’ of uncertainty.
- Managerial economics integrates diverse economic aspects of microeconomics and macroeconomics and helps the organization to achieve its aims and objectives most efficiently.
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