1.What is microeconomics?[2][2076][2074][2071][2072]?
Economics is the study of how individuals and societies choose to utilize scarce resources to satisfy unlimited human wants. It studies the behaviour of economic agents, producers, consumers and government, in relation to scarce resources and unlimited wants.
2.What is managerial economics?
Managerial economics is a stream of management studies that emphasizes primarily solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics