ACTIVITY #1 IN MANAGERIAL

ECONOMICS

RAMOS, MICKAELA P.
BSA-1A
 Questions:

ANSWERS:
1) Managerial Economics is the process of decisions makings for
our economic entities it revolves in what to produce, how to
produce and for whom to produce because the decisions that
made in economics is connected on the people, we help to decided.
If I have a company who produce skincare and make up, it
produces make up and skincare, it produces various kind of
make ups for different group of people who like and love both
skincare and make it produces in such way, that it minimizes
costs and maximizes profits (or minimizes losses).
Pricing your good is one of the examples of managerial
economics.
 2) As we speak, I'd like to highlight that managerial economics
deals with the economic decisions that help our economy
create and expand. It also deals with the economic decisions
that help businesses grow and become large.

3) Accounting student should a have knowledge of a

managerial economics because it helps them to know what is
going on in their society and community and by knowing those
things you can think very relevant and reliable decision they
can make Moreover, it assists in identifying various business
and managerial problems, their causes, and consequences in the
context of globalization, privatization, liberalization, and
marketization as well as a highly competitive. It is both an art
and a science.

4)
Microeconomics is a topmost discipline since it emphasizes
supply and demand as well as other factors that affect price
levels and it is the one who studies individuals and business
decisions.
·Macroeconomics employs a biggest perspective to examine
the economy to ascertain its nature and future trajectory
and it is the one who analyses the decisions made by
countries and governments.
 These two economic ideas are a part of managerial
economics; macroeconomics plays a managerial role by
helping us understand the ups and downs of our economy so
that we can also develop a strong strategy to counteract
them, and microeconomics plays a managerial role by
assisting in the analysis and determination of how the
productive resources are distributed for various goods and
services by the decision-makers. This also helps the
producers' dilemma of what to manufacture, how much to
make, and for whom to make it.

5) Telecommunication
As technology advances, transaction costs for domestic firms
decrease, increasing the output of businesses across the
economy. - The changes in aspects in terms of customer,
there is a large customer base in telecommunications we can
anticipate who will buy our product and help our society or
economy to grow (Roller & Waverman, 2001). Therefore,
investing in ICT has a significant positive impact on the
economy. Finally, there is fierce competition among nations
to lead in telecommunications. As a result, we must develop
more in this area if we hope to catch up to the major
competitor.
Retail Merchandising
In terms of customers, retail merchandising can increase the
number of individuals who pass by and enter your store.
More traffic may lead to more success and sales. Before
determining whether to enter and shop, customers should be
welcomed outdoors when they first observe a store.
According to technology, the retail industry now has a new
facet. The development of point-of-sale systems, bar codes,
and massive databases for invoicing and payments has
made it possible to operate large setups with ease. Finally,
by providing the same high-quality goods and services and
by following the same pricing policy, any retailer can enter
and depart the retailing competition. Competitors may
provide a wider and deeper selection of goods to entice
customers if a retailer is successful because of its wide range
of product offerings.
Higher Education
In addition to fostering entrepreneurship and technical
innovation, higher education has a positive impact on the
economy through increasing productivity and creativity. In
addition, technology has the power to fundamentally alter
how people learn and teach. These factors all help to
enhance output and economic growth. By eliminating time
and geographic barriers to education, it can greatly expand
access to lifelong learning.
Students no longer need to congregate at the same time and
place in order to learn together from an instructor. Finally,
possibly, while competition might raise quality, it can also cause
institutions to prioritize their image or spend more money on
frills. Developing a strategy and highlighting the most
important components may be made easier by comprehending
the dynamics of academic competition. Rankings on a national
and international level are very important in this tournament.

Aerospace and Defense

With new technologies like robotics/autonomous systems,
artificial intelligence, additive manufacturing, and sensor
technologies taking centre stage, the aerospace and defence
industry will see an increased push toward the adoption of
digital innovation while in technology the equipment and
aircrafts they might need are already built in an innovative
way. This has effects on changes in the economy in terms of
customers. The aerospace, security, and defence industries
are developing as a result of competition. a time period
characterized by quick market changes and pressure on
profits and prices. Due to the intricacy of this environment,
creativity and adaptation are required.