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...Unit managerial economics an introduction structure objectives meaning and definition of characteristics nature scope relationship with other disciplines summary key words self assessment test suggested books references after studying this you should be able to understand the branches knowledge is indeed off shoot second world war before outbreak study was purely academic exercise while business a pure practice based on common practical sense human mind created tremendous pressure scarce economic resources thus need for optimum utilization intensified further which ultimately gave birth new discipline popularly known as present has become very dynamic complex uncertain risky therefore taking appropriate correct timely decision challenging tedious task existence survival growth basically depends such decisions undoubtedly friend philosopher guide leaders managers growing complexity making process increasing use logic concepts theories tools analysis in rapid increase demand professional...