Nature | Top 7 Scope of Managerial Economics
Micro-Economic in Nature: The branch of economics which deals with individual units of an economy is called micro-economics. These individual units may be either a firm or a person or a group of firms or a ย group o persons.
Pragmatic: Managerial economics is practical in nature. Rigid and abstract theoretical framework are provided by managerial economics to managers. It is said to be pragmatic in nature because it avoids complex abstract issues of economic theories at one end