Question

Which among the following is a branch of economics involving the application of economic methods in the managerial decision-making process?

A Cost Accounting Correct Answer Incorrect Answer
B Financial Economics Correct Answer Incorrect Answer
C Management Accounting Correct Answer Incorrect Answer
D Managerial Economics Correct Answer Incorrect Answer
E Econometrics Correct Answer Incorrect Answer

Solution

Managerial Economics is a branch of economics involving the application of economic methods in the managerial decision-making process. Managerial economics is used to find a rational solution to problems faced by firms. These problems include issues around demand, cost, production, marketing, and it is used also for future planning.

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