MGCR 293 Lecture Notes - Differential Calculus, Forego, Cash Flow

42 views2 pages

Document Summary

Economic forces of supply & demand determine: demand for products, prices of resources & cost of production, number of rival firms, nature of pricing strategies, profitability of business investments. Extracts from microeconomic theory the concepts & techniques that enable managers to select strategic direction to allocate efficiently the resources available and to respond effectively to tactical issues. Provides a systematic and logical way of analysing business decisions which focus on economic forces that shape both day to day decision-making as well as long run planning and decision making. Me focuses on the application of microeconomic theory to business problems: microeconomics the study & analysis of individual segments of the economy. Individual consumers: workers & owners of resources. Demand, supply, cost, profit, competition, pricing strategy, entry strategy, market protection strategy, etc. Micro & macro are descriptive, me is prescriptive (rules & techniques to fulfill specified goals)

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents