Question

what is what is difference between managerial economics and economics

Answer 1

Economics
(1).Deals with the body of principles.
(2).Characteristics of both micrp and macro in nature.
(3).Economics is based on certain assumptions.
(4).In economics different theonies of distribution are studied.
(5).It is both normative and positive

MANEGERIAL ECONOMICS
(1).Deals with application of principle.
(2).Manegerial economics is micro in nature .
(3).In managerial economics these assumptions disappear due to practical situation.
(4).Only the study of theory of project.
(5).It is mainly normative science

Answer 2

Answer:

• Managerial economics is a branch of economics which deals with the application of the economic concepts, theories, tools, and methodologies to solve practical problems in a business these business decisions not only affect daily decisions, also affects the economic power of long-term planning decisions, its theory is mainly around the demand, production, cost, market and so on several factors. In other words, managerial economics is a combination of economics theory and managerial theory. It helps the manager in decision-making and acts as a link between practice and theory. It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units...