6. Discuss the scope of managerial economics. ( Definition of Managerial Economics ,Scope of Managerial Economics )
Answer:-Definition of Managerial Economics
“Managerial economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by the management”1. Mc Nair and Meriam say, “Managerial economics is the use of economic modes of thought to analyse business situation”
Scope of Managerial Economics
The scope helps in understanding the subject, area of
