What role does managerial economics play in shaping business decisions?

Q: How does the market and equilibrium relate to the real world of business in relation to managerial…

A: At the point when the market is in equilibrium, there is no inclination at costs to change. We say…

Q: What other economic trends are influencing today’s business organization?

A: Economic trend: It shows the financial performance of the country or in any particular area. With…

Q: How does the budget constraint affect consumer choices?

A: Household decisions are determined by the combination of pricing, financial limits, and personal…

Q: what weaknesses would you identify in utilitarianism?

A: Utilitаriаnism  is  а  theоry  оf  mоrаlity,  whiсh  аdvосаtes  асtiоns  thаt  fоster  hаррiness  оr…

Q: What are the major forces in consumerism today?

A: Consumerism says that the a consumer's increase in consumption of goods and services is the main…

Q: Contrast and compare the mercantilist and scholastic approaches to analyzing an economy.

A: Economic analysis is the study of economic systems through various angles. It can be a study of a…

Q: Why would the market produce an inadequate level of some goods and services which society might view…

A: Product manufacture is dependent on varied factors other than societal welfare. The inherent reasons…

Q: How are important values such as sustainability reflected in the market-place today?

A: In the business context, sustainability addresses mainly two things:   The effect of business on…

Q: What do you think are external factors that may affect or influence one’s choice of a career?

A: Career choices are an essential step in a student’s life. It impacts a no. of decisions that…

Q: List the Economic Factors related to the market managers?

A: The marketing environment incorporates aspects or factors that may be internal and external to the…

Q: Economist Milton Friedman said companies should focus on maximizing profits not social…

A: The business has the operational role for ensuring that products are produced and distributed to…

Q: The long-run effects of rent control support one of the five foundations of economics, namely, that…

A: The impact of rent control on tenants and housing markets provides insight into the impact of rent…

Q: explain what is the SMART framework

A: Specific, Measurable, Attainable, Relevant, and Time-bound is the acronym for SMART. In project…

Q: What, exactly, is ACT UTILITARIANISM?  How does it work?  What strengths and weaknesses does it…

A: ACT UTILITARIANISM:- Act utilitarianism is a utilitarian hypothesis of morals which expresses that…

Q: one business scenario. 6. Identify and distinguish 5 ethical theories (Kohlberg's Stages of Moral…

A: Ethical theory is way by which the concepts of moral can be understood and moral principles…

Q: Can a business firm generate maximum profit and achieve it's goals without employing managerial…

A: The business organization survives under an ever-changing environment and hence, the organizational…

Q: How important is management to economics?

A: Management implies all the activities and strategies that are required for achieving the business…

Q: How does the circular economy offer potential for business model innovation for companies ?

A: Circular Economy is an idea of circulating resources in the economy in form of goods and services as…

Q: Explain the Cardinal approach in managerial economics?

A: Cardinal Approach• This approach was propounded by English philosopher Jeremy Bentham (1748-1832):…

Q: what is the definition of nepotism

A: Note: We are authorized to answer only one question at a time. Since it is not mentioned which…

Q: What is consumerism, and how is it good for sustainability?

A: These days the businesses are global. The marketplaces are global and the organizations are trying…

Q: In the midst of a multitude of facts, data, and statistics, what fundamental economic models and…

A: Economists carry a set of theories in their heads like a carpenter carries around a toolkit. When…

Q: What are the components of utilitarianism in business? Name them and explain each

A: In business, utilitarianism plays an important role while building the ethical approach for the…

Q: What is the consumer-to-consumer model?

A: E-commerce states online exchange and transaction facilities for businesses and customers. It may…

Q: technology entrepreneurship

A: Entrepreneurship helps in promoting self-employment, innovations, financial independence, and…

Q: What is meant specifically by the terms: political, legal and economic conditions?

A: These days, the businesses are going global. The globalization of businesses has been made possible…

Q: 7. Which is not a central problem of an economy?

A: The correct option is C .  How to maximize private profit . A concept of an economic issue could be…

Q: How would knowing the basics of management affect being an agricultural economist?

A: Agricultural economics is a branch of knowledge that deals with the approaches to economic concepts…

Q: When are the concepts of equivalence and economic indifference used at work?

A: Concept of Equivalence: The approach to inter family income comparisons, centered on the notion of…

Q: Which are the factors tend to influence the ethical decision making and judgement?

A: Ethical decision-making refers to the way toward assessing and picking among choices in a way steady…

Q: How do you create monetary and fiscal policies? What factors or tools do you consider to arrive at a…

A: Fiscal policy and Monetary policy refer to the two considerable widely acknowledged tools used to…

Q: How can the demands of the stock market affect managerial decision making?

A: Decision Making is the way toward settling on decisions by recognizing a choice, gathering data, and…

Q: Amartya sen Briefly discussed Sen's capabilities approach to economic development

A: The capability approach is a regularizing way to deal with human welfare that focuses on the real…

Q: In economics, what do you call a good, if consumers must experience it to value it?

A: Knowing a customer’s perspective is an essential element for a product to make its place or image.…

Q: Contemporary best-selling management books often argue that customers are the most important element…

A: There are many bestseller management books in the market which have a great influence on the people.…

Q: what is economics marginal analysis

A: The concept of marginal analysis is related to the concept of Cost, so let us first know what Cost…

Q: Are we to be blamed or condemned for all undesirable outcomes in a business or organization?…

A: Risk management is described as a process through which threats are controlled, assessed, identified…

Q: a good social business model would be?

A: In the world of business, times are changing at a rocket speed. How organizations intermingle with…

Q: How do our attitudes towards the past and future shape our actions?

A: Attitude is basically a mental and emotional state of an entity or an individual that characterizes…

Q: What is self-sufficiency?

A: Self-sufficiency also known as self-dependency, that not only protects individuals from various…

Q: What is the role of "top management" in macro environmental factors and companies performance?

A: Management is the process of managing and controlling the working of an organization. There are 3…

Q: How Do businesses make  typical Personal Decisions?

A: There are various aspects that have to be considered by a business before making any decision. They…

Q: What are the implications of the relationship between supply and demand?

A: The implication of the relationship between supply and demand is shown on the price by the law of…

Product Extension and Refinement

“Product extension is the marketing strategy using an established product's brand name on a new product that is in the same category.”