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Managerial economics is, perhaps, the youngest of all the social sciences. Since it originates from Economics, it has the basis features of economics, such as assuming that other things remaining image management software the same, to simplify the complexity of the managerial phenomenon under study in a dynamic business environment. The other features of managerial economics are explained as below: image management software (a) Close to microeconomics: Managerial economics is concerned with finding the solutions for different managerial problems of a particular firm. Thus, it is more close to microeconomics. (b) Operates against the backdrop of macroeconomics: The macroeconomics conditions of the economy are also seen as limiting factors for the firm to operate. In other words, the managerial economist has to be aware image management software of the limits set by the macroeconomics conditions such as image management software government industrial policy, inflation and so on.
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