Textbook Notes (369,125)
Canada (162,402)
BUS 207 (14)
Chapter 1

Review chapter 1 of BUS207

3 Pages
117 Views

Department
Business Administration
Course Code
BUS 207
Professor
Allan Matadeen

This preview shows page 1. Sign up to view the full 3 pages of the document.
Description
Chapter 1 Key Terms Manager: A person who directs resources to achieve a stated goal Economics: the science of making decisions in the presence of scarce resources Managerial economics: the study of how to direct scarce resources in the way that most efficiently achieves a managerial goal Economic profits: the difference between total revenue and total opportunity cost Opportunity cost: the cost of the explicit and implicit resources that are forgone when a decision is made Present value: the amount that would have to be invested today at the prevailing interest
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit