Scope of Managerial Economics

Managerial economics helps in taking various miscellaneous decisions like how the data should be maintained how public relation information system should be maintained how to manage and process the data all these decisions are made with the help of managerial

One dominant economic feature of the healthcare industry is the growing need for both basic and specialized healthcare due to the continued aging of the “Baby Boomer” generation. This generation consists of over 79,000,000 individuals born in the US between 1946 and 1964. As this generation has aged, the need for healthcare has increased dramatically. Let us take a look at some statistics:

Outreville, J. F. (2013). The Ageing Population and the Future of Healthcare Plans. Geneva Papers On Risk & Insurance - Issues & Practice, 26(1), 126.

Mergers between health insurance groups and pharmacies have already begun to take place, as in the case in the merger between Aetna and CVS. This merger, once complete, could introduce providers into the CVS pharmacies, making shopping for personal needs, receiving healthcare, and picking up prescriptions a one-stop trip (Dowling, 2017). Consumerism is the root cause of this trend, and as the population continues to age and change in terms of the racial make-up, consumerism will only grow, meaning more people wanting more services in less time and with more convenience. Providers of larger practices should not see this as a deterrent to the services they offer, but rather as an opportunity to adapt to the changes in demographic trends and innovate their practices to remain competitive with the rest of the industry. Regardless of the changes in types of practices that begin to take of the healthcare industry, the aging population will still depend on the presence of hospitals and long-term care facilities to care for them during chronic, long lasting

With the growing rate of the elderly, increasing the need for our services, the growth potential for our business is enormous. As long as we stand by our commitment of a professional company and live up to our own standards, we will surpass the

The definition of company is 'A legal entity, by legislation, which permits groups of people, as shareholders, to apply to government for an independent organization to be created, which can then pursue set objectives ' (Duhaime, 2014).

The Porter and Thomas paper gives an economics interesting point of view. As one learned during the eight-week Managerial Economics course, the world revolves around two concepts supply and demand. Game ticket prices are elastic, team franchise owners are sensitive to changes in the ticket price of their teams and the general consumer's willingness to purchase a ticket for a disclosed amount. There are many variables that influence the price and sales of tickets. Students learned in unit two that supply and demand do not shift together, on the contrary, only one line will shift meaning the demand or the supply curve. Moreover, economist believes ticket prices are too low because of government subsidies cater toward NFL owners.

corporation profits and stock market values. At the same time, a huge new cohort of young

A firm is the business organization that owns one or more plants. A firm can be very large, such as General Motors, which owns many plants in many

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services through its more than 30,000 employees and 89,000 advisors to more than 37 million clients worldwide. Their heritage and international presence that has enabled them to touch the lives of millions of people around the world and help them achieve lifetime financial security. Rich history is also the foundation that drives Sun Life growth today and for the future. In 2015, they celebrated their 150th anniversary and acquired three firms – Bentall Kennedy, Prime Advisors and Ryan Labs – that each brings leading capabilities to Sun Life Investment

A Corporation can be defined as a legal creation, however the corporation itself, would only exist on a piece of paper. A corporation will never die a natural death like humans die naturally, and corporations will always outlive the individual who created it. With that said, the corporation itself is never really committed to any employee or committed to any neighbor. However, a corporation can always demand employees, a corporation can always demand taxes that are extremely high, and a corporation can also restrict environmental laws. Corporations hold a great deal of power in today's society.

|5000 employees at the beginning of the 1990s, it has grown to exports of $70 billion and 2.8 million employees today, and a globally dominating |

the firm: Implications for business and society theory and research. In J. F. Mahon (Ed.), Proceedings of the second annual meeting of the International Association for Business and Society: 449-467.

Managerial economics, the name itself tells us it is the combination of both economics and the management. According to the great economist Dr Alfred Marshall economics mainly involves how a person gets his income and how he fulfils his needs with that income.in short economics is the study of man’s actions. Management include many activities done with the help of manager such as planning, organising, controlling and directing the products in a way to achieve goals.

Management in business and human organization activity, in simple terms means the act of getting people together to accomplish desired goals. Management comprises planning, organizing, ->resourcing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.