Now let's see the function of managerial economics
1. PROVIDING DECISION
It provides all decisions to cope up with the economic condition, so that it will give a fair chance to choose from. hence improve the production for the economy
2.FORWARD PLANNING
Planning implies giving a right picture of things that are going to happen, always right planning can lead a firm to success. And forward planning implies the same as what planning is. It is associated with future course of action of a firm. It makes future as well as past action and compare with present day. So that provide variable changes that required.
1. PROVIDING DECISION
It provides all decisions to cope up with the economic condition, so that it will give a fair chance to choose from. hence improve the production for the economy
2.FORWARD PLANNING
Planning implies giving a right picture of things that are going to happen, always right planning can lead a firm to success. And forward planning implies the same as what planning is. It is associated with future course of action of a firm. It makes future as well as past action and compare with present day. So that provide variable changes that required.
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