Forum 1

How can managerial economics help in attaining the organizational goals and
objectives?
Managers' overall duty is to enhance the efficiency of company decision-making for
profit. Managerial economics helps companies to identify price strategies and pricing
levels for their products and services. It allows for the optimal use of scarce resources in
such organizations and helps them to achieve their goals more effectively. Managing
Efficiency helps managers understand the necessary economic concepts for decision
making in areas such as production, staff, marketing, and funding.
While managerial economics is useful in making the best decisions, it should be
understood that only the expected economic outcomes of a management action are
explained. Management economics instruments can, for example, describe the effect on
the availability of domestic vehicles, the price of cars, or the level of competition within
the car sector that automotive import limits will have. Management economic analysis
will show that fewer vehicles will be available, car prices will increase and competition
will be decreased. However, the economics of management does not deal with whether
it is an appropriate government policy to establish automotive import restrictions. This
latter topic includes larger policy concerns that include so-called value judgements by
economists.

Forum 2
Which among the major problems in economics is crucial and difficult to provide an
answer?
In industrialized economies, unemployment is a major economic concern. The business
cycle is one of the main causes of unemployment. During the recession, a downturn in
goods forced individuals to lay off. Due to the poor status of the economy, the demand
and supply of employees are unbalanced.
Unemployment can also be generated by fast changes in labor market conditions, for
example, by employees who are not skilled in the high-tech sector being unable to
acquire a job. The problem of unemployment is a waste of resources, and above all, it
causes very significant personal costs, such as stress, isolation, poor incomes, and a
feeling of failure.

Forum 3
Is profit maximization the ultimate aim of business enterprise to survive?. Justify your
answer and cite concrete evidence to support your answer.
The ultimate objective of every business is to provide your primary target audience with
desired services and solutions to concerns. Profit optimization is based on operations to
guarantee that your core aim is achieved effectively and smoothly. When companies
make profit maximization their primary objective, it can lead to workers' discriminatory
practices towards the consumer. Maximizing profit is an unsuitable objective, because
short-term profit is made more focused than maximizing profit in line with the
maximization of wealth by shareholders.

Profit is a broad concept that gives each individual a diverse sense. The term profit, for
instance, might imply long-term profit or short-term profit, income before tax or profits,
gross profit or profit before tax, profit per share, return on equity, and so on. If profits are
maximized as an objective of the company, then decisions will be confused. The quality
of the advantages is ignored. The quality of benefit refers to the level of confidence with
which the financial course of action may anticipate future advantages. If they are
unclear or change, the quality of the projected benefits is considered to be weaker. The
maximizing of profit takes into account only the overall profit amount and not the quality.
It overlooks money's economic value. Benefits received in earlier periods are more
valuable than those received in later periods. However, the profit maximization goal
ignores this fundamental truth that the benefits received earlier are more valuable than
those that are received later because the earlier benefits can be reinvested to earn a
return.