Specific Components of Economic Decision Making
Managerial economics is a respected subject for managers of all types of companies. A manager leads employees to accomplish a specific goal using decision-making steps that are appropriate for the private or public sector.
This description takes into account every person who (1) leads the duties of other individuals, including those who assign tasks within an organization such as a company, a household, or a group; (2) acquires inputs necessary to create goods and services, such as the output of a company, resources for those in need, or housing for displaced persons; and (3) makes additional decisions.
