Managerial Economics Basics

The application of economic theory and quantitative methods to solve business problems

Optimizing decision-making to achieve the firm's goals

It focuses on decision-making within organizations rather than on the economy as a whole

<p>Optimizing profits and resource allocation</p> Signup and view all the answers

<p>By analyzing practical problems at both micro and macroeconomic levels</p> Signup and view all the answers

<p>Economic theories and principles</p> Signup and view all the answers

<p>Forecasting, which involves levels of risk and uncertainty</p> Signup and view all the answers

<p>The application of economic theory and methodology</p> Signup and view all the answers