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Subdecks (4)
Chapter 5: Market Structure
MGTECO
16 cards
Chapter 7: Organizational Structure
MGTECO
22 cards
Chapter 1: Resource Utilization
MGTECO
25 cards
Cards (67)
Efficiency
and
effectiveness
are necessary in the study of managerial economics.
Economics is simply
scarcity
and
choice.-
Slavin (2005)
Economics
is the science that deals with the management of scarce resources in demand.
Efficiency
refers to productivity and the proper allocation of economic resources.
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