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Economics is the study that deals with the distribution, production, and consumption of services and goods. It also has the concept of demanded and supplied services and goods. It is used to study the behavior of clients. Economics includes the method of using resources by the government effectively and efficiently so that it can meet the demand of people and satisfy their needs.
It deals with economic activities which are left free to play an important role in market forces. This kind of economy, especially in the US, where organizations can decide the cost and sell the services or goods at a high cost that clients easily pay, is called a free economy.
It refers to a kind of economy where economic activities are in central authorities’ hands. In another way, we can say that these economies carry out by the central government.
It is another economy type used to possess the characteristics of both the centrally planned economy and the market economy.
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Managerial economics is used to deal with applications of economics concepts, theories, tools, and methodologies to solve business problems. It is the perfect combination of economics theory and managerial theory. If students face any issue with their managerial economics assignment, they can take our experts' help available at pocket-friendly prices.
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