Archive | Managerial Economics

Objectives of Business

Everything you need to know about the objectives of business. The business is an economic institution operating in a socio-economic system. Therefore, objectives of business should be defined keeping in view its prevailing environment and its needs for survival and growth. Like any other institution business has several rather than a single objective. Objectives of business are multi-dimensional in nature. [...]

By |2022-11-26T18:21:20+05:30September 14, 2019|Managerial Economics|Comments Off on Objectives of Business

Theories of Profit in Managerial Economics

Here is a list of eight main theories of profit in managerial economics. The theories are: 1. Risk-Bearing Theory of Profit 2. Uncertainty-Bearing Theory of Profit 3. Rent Theory of Profit 4. Innovation Theory of Profit 5. Dynamic Theory of Profit 6. Monopoly Power Theory of Profit 7. Labour Exploitation Theory of Profit 8. Marginal Productivity Theory of Profit. 1. [...]

By |2022-11-26T15:08:08+05:30September 17, 2016|Managerial Economics|Comments Off on Theories of Profit in Managerial Economics

Concepts of Managerial Economics (With Diagram)

The following points highlight the seven fundamental concepts of managerial economics. The concepts are: 1. The Incremental Concept 2. The Concept of Time Perspective 3. The Concept of Discounting Principle 4. The Opportunity Cost Concept 5. The Concept of Equimarginal Principle 6. The Contribution Concept 7. The Concept of Negotiation Principle. Managerial Economics: Concept # 1. The Incremental Concept: It [...]

By |2022-11-26T15:06:56+05:30May 16, 2016|Managerial Economics|Comments Off on Concepts of Managerial Economics (With Diagram)
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