Activity:

1. Give at least three (3) managerial decision areas in Managerial Economics and explain briey their importance. 2. Explain the four (4) scopes of managerial economics. 3. Differentiate microeconomics from macroeconomics. Give an example. 4. Draw and explain the demand curve. 5. Draw and explain the supply curve. 6 Explain the relevance of supply and demand theory. 7 What are the stages of business cycle and explain each stages. 8 this explain economic growth, the increase in output per capita of a country over a long period of time. The same factors are used to explain differences inthe level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same rate of growth. 9. is the relation of the quantity that all buyers would be prepared to purchase at each unit price of the good. 10. ___js the relation between the price of a good and the quantity available for sale atthat price