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The relevance of economic analysis for management decision making. 1.1 The economic context in which organisations operate? 1.2 The problem of scarcity? 1.3 Neoclassical economics

The relevance of economic analysis for management decision making.

1.1 The economic context in which organisations operate?

1.2 The problem of scarcity?

1.3 Neoclassical economics and the marginal principle ?

1.4 The production possibility frontier ?

1.5 Accounting costs, economic costs, accounting profit and economic profit?

1.6 Factors of production ?

1.7 The capitalist economy ?

1.8 The circular flow of income in the economy ?

1.9 The two main measures of national economic output ?

1.10 The objectives of macroeconomic policy

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