MANECO

Its purpose is to apply economics for the enhancement of managerial decisions in an organization.

The process of planning, organizing, leading and controlling the resources of an organization to reach its goals efficiently and effectively.

The underlying goal of the organizations in the study of managerial economics.

Two elements that managerial economics provides to enhance managerial decision-making processes.

Two decision science tools which are used in solving managerial decision problems along with economic theories.

This theory was based on the assumption that the goal or objective of the firm is to maximize current or short-term profit or to maximize the wealth of the value of the firm.

This theory is the extent to which an event is likely to occur, measured by the ratio of the favorable cases to the whole number of cases possible.

Economic approach that the purpose of managerial economics is to apply economics for the improvement of managerial decisions in an organization.

Approach in economics is essential for understanding the behavior of atomic entities in an economic.

provides measures and theories to understand the overall systematic behavior of an economy.