308237
Description
Mind Map by Hrishikesh Yagnik, updated more than 1 year ago
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Created by Hrishikesh Yagnik
over 10 years ago
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Managerial Economics
- Scope of M.E. is to solve problems of DECISION Making and Forward Planning
- Resource Allocation
- Optimum allocation of scarce
resources.
- Optimum allocation of scarce
resources.
- Inventory and Queing Problems
- Involves Decision about holding Optimal Levels of
Stocks of Raw Materials and Finished goods Over a
period of Time
- Queing Problems involves Decision about Installations
about additional Machines or hiring Extra labour to
balance business lost if these activities not taken up
- Involves Decision about holding Optimal Levels of
Stocks of Raw Materials and Finished goods Over a
period of Time
- Pricing Problems
- Fixing Proces of firms Products
Decision regarding Various
Procong Methods to be applied
- Fixing Proces of firms Products
Decision regarding Various
Procong Methods to be applied
- Investment Problems
- FWD Planning involves Investment Problems i.e allocating Scare resources
over time 1) Investing in new plants 2) Sources of Funds
- FWD Planning involves Investment Problems i.e allocating Scare resources
over time 1) Investing in new plants 2) Sources of Funds
- Resource Allocation
- Demand Analysis and
Forecasting helps choose a
product and planning output
levels
- Study of Demand Elasticity
and Thoery of Cost helps the
firm to determine and fix
prices under various market
conditions
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