Encyclopaedic Dictionary of Managerial Economics (A-I)

Managerial Economics applies economic theory and methods to business and administrative decision making. Because it uses the tools and techniques of economic analysis to solve managerial problems, managerial economics links traditional economics with the decision sciences to develop important for managerial decision making. Equally important, managerial economics is just as relevant to the management of non-business, nonprofit organisations such as government agencies, cooperatives, schools, hospitals, museums and similar institutions, as it is to profit- oriented business. In order to deal with these, the Encyclopaedic Dictionary of Managerial Eocomics has been compiled and edited. It is more or less a dictionary but encyclopaedic in its contents and nature of presentation. An attempt is made to keep a balance between the terms taken from economic concepts and measurement techniques. The terms are fully explained and illustrated where needed. This encyclopaedic dictionary which is the first of its kind in the area will prove to be of immense utility to the students, researchers, academicians, managers, administrators, professionals, and policy-makers for providing them a right perspective and a clear understanding of the subject.