Hi, Please help me answer this question. Thank you Instructions : Select the best answer then provide a brief yet rational explanation. All the answer needs a "JUSTIFICATION" 1. What is a specialized stream dealing with the organization's internal issues by using various economic theories? A. Art and Science B. Macroeconomics C. Managerial Economics D. Microeconomics 2. A nature of managerial economics which is also considered to be a stream of science by some economist claiming that it involves the application of different economics activities. A. Art and Science B. Macroeconomics C. Managerial Economics D. Microeconomics 3. All the concept below are types of managerial economics except one. A. Liberal B. Normative C. Radical D. Reciprocal 4. It is defined as a money flows from producers to workers as wages and flows back to producers as payment for products. A. Circular Flow B. Macroeconomics C. Managerial Economics D. Fundamentals of Economics 5. Why decision making is so important in managerial economics? A. Because it can control the management of the whole economic system. B. Because it can provide a good character. C. Because it can answer all the questions. D. Because it can challenge you. 6. What are the correct arrange of five basic step of decision making? A. Establish or identify the objectives, Define the problem, Identify possible solutions, Select the best possible solution, Implement the decision B. Establish or identify the objectives, Define the problem, Implement the decision, Identify possible solutions, Select the best possible solution C. Define the problem, Implement the decision, Establish or identify the objectives, Identify possible solutions, Select the best possible solution D. Define the problem, Implement the decision, Establish or identify the objectives, Select the best possible solution, Identify possible solutions 7. It is expressed as a monetary unit. A. Demand B. Goods C. Price D. Supply 8. It is refers to the willingness of a consumer to buy goods or services backed up by his purchasing power. A. Demand B. Goods C. Price D. Supply 9. What law are stating that as a price increases, quantity demanded decreases and as price decreases, quantity demanded increases? A. Law of Demand B. Law of Goods C. Law of Price D. Law Supply 10. Why managerial economic is essential? A. Because it will provide a concepts that are very important in economic system. B. Because it can contribute on how accountant be an economist. C. Because it will establish the student to be more competent in the real life situation. D. Because it will help us to be more familiar with economic system as a whole