Managerial Economics Club Blog

To be a good manager, you need to be a good economist. But it takes time and effort. This blog is an attempt to discuss managerial issues in a straight, simple and easy way. It is neither overwhelming nor nerve breaking. Just click that orange button on the top left to subscribe to my RSS/XML feed and receive alert about fresh additions on this site.

After that just go through the items which have already been blogged. You are also welcome to contribute.

A Primer in Game Theory

A primer in game theory provides a number of solutions for the managerial decisions

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Discover secrets of opportunity cost economics for managers

You can't be a good manager without knowing economics. But you can't be a manager without knowing the opportunity cost economics.

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Inflation measurement distorted.

Inflation measurement is deceptive due to income disparity. Pakistan faces a dangerous trade deficit. Its upper middle-class benefits from a high proportion

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Why Transaction Costs are Important for Managers

Without understanding transaction costs you can’t get exact turnout of your business. Read the article to know them well for right choices.

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Why cost management may not equate to cost reduction?

The individual projects may have individual cost management measures. But companies and public sector need to include it in their overall planning.

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Free Managerial Economics Quizzes

Managerial Economics Quizzes

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elasticities

Under interpretation of elasticity coefficients there is price elasticity of demand and income elasticity of demand but i don't really understand it very

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Ceteris Paribus?

Except for Giffen goods, I do not think there could be upward-sloping demand curves. The other examples are noy holding othet things constant and confusing

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When price increases demand decreases the law is not right in all times in pres condition

When consumer purchase a car like OD CARS. .they have the ability to maintain the car When the price of fuel increases the demand of car decrease

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I'm confussed please do not ignor this

I just find it difficult to understand relative elasticity and inelasticity would any one please help me?

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Definition of Managerial Economics

It can be defined as ways by which managers can make decisions that can be favorable to them.

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Laws of Economics in Changing World

Do laws of economics fully satisfy the changing statistics of today? By Admin: Thanks for your interest in economics. In one sentence, the laws of economics

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economy of scope vs economy of scale- an ambiguity

Economy of scope and economy of scale are two related but different concepts. The managers can cash in on by exploiting the both.

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Economies of scope reduces cost by producing variety

Economies of scope talk about reducing cost by producing variety by utilizing the already available plant, machine, technology and other resources.

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Application of Game Theory in Real Life Business Models

Application of Game Theory in economics can be done in both ways as well as from outside of a firm or inside of a firm. Practical examples.

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Game theory Definition and characteristics

Game theory definition changes as you move from one discipline to other. Here we will go for definitions which are helpful for managerial decision making process.

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The game theory and managerial decision making

Game theory shows how different games can be played in our daily managerial lives. I love chess so I have chosen it to explain the game theory. You can choose your own game...

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Scarcity and rarity; exploitation and competitive advantage

Scarcity definition makes it somewhat an uncontrollable economics. However, many firms have exploited scarcity with their better organizational talents.

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Scarcities of resources and their economic management

Handling scarcities of resources with economic reasoning can lead you to provide the best value to your customers which helps them to come back with a satisfied mindset.

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Production possibility curve and shifts

Production possibility curve in expression of graphing production possibilities of two products at the same machinery and technology.

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