1. Managerial economic is the integration of economic theory with business practice for purposes of facilitating decision-making and forward planning by management. Along this line, outline the nature of managerial economics.
2. Business cycle or trade cycle refers to the fluctuations in economic activity and understanding of this is very important for managers to make the right decision for his organization. Discuss the random and cyclical fluctuations as well as the sequence of changes in business cycle.
3. The demand and supply of a commodity are always affected by the change in price of the commodity. Related to this, what are the factors that affect price decisions of management in an organization. Discuss in these factors that influence managerial decision in pricing of their products.
4. Airports typically charge higher price for parking during holidays than they do during their times of the year. Why do you think?