. What is the meaning of managerial economics?| How can you apply this in real life? . What do you mean by decision Making. Retell What was the best and the worst decision you experienced. . Suppose a soft-drink rm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent real fruit juice. How might it use the six decision steps to guide its course of action? . Management sometimes is described as the art and science of making decisions with too little information. In your opinion what kind of additional information would a manager want in the seven examples cited in the lesson