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Managerial Economics University of Calicut

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MANAGERIAL ECONOMICS
Study material COMPLEMENTARY COURSE For I SEMESTER B.COM/BBA.

(2011 Admission)

UNIVERSITY OF CALICUT
SCHOOL OF DISTANCE EDUCATION
CALICUT UNIVERSITY P.O. MALAPPURAM, KERALA, INDIA - 673 635

409

School of Distance Education

UNIVERSITY OF CALICUT
SCHOOL OF DISTANCE EDUCATION Study Material COMPLEMENTARY COURSE I SEMESTER B.COM/BBA

Managerial Economics
Prepared by: Module I, II, V(A) : Sri. M.V. Praveen, Asst. Professor, Dept. of Commerce, Govt. College Madappally.

Module III, IV & V (B)

:

Sri. Vineesh A.K., Assistant Professor, Department of Commerce, Govt. College, Madappally. Dr.K.Venugopalan, Associate Professor, Department of Commerce, Govt. College, Madappally. © Reserved

Edited & scrutinized by

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Managerial Economics-I Sem.B.Com/BBA

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CONTENTS
MODULE PARTICULARS PAGE NO. 5 12 33 42

1 II III IV

INTRODUCTION

DEMAND CONCEPTS PRODUCTION MARKET STRUCTURES AND PRICE OUTPUT DETERMINATION
PRICING POLICY AND PRACTICES BUSINESS CYCLE

V (A) V (B)

60 66

Managerial Economics-I Sem.B.Com/BBA

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Managerial Economics-I Sem.B.Com/BBA

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School of Distance Education

MODULE I
INTRODUCTION
Introduction The term “economics” has been derived from a Greek Word “Oikonomia” which means „household‟. Economics is a social science. It is called „social‟ because it studies mankind of society. It deals with aspects of human behavior. It is called science since it studies social problems from a scientific point of view. The development of economics as a growing science can be traced back in the writings of Greek philosophers like Plato and Aristotle. Economics was treated as a branch of politics during early days of its development because ancient Greeks applied this term to management of citystate, which they called „Polis‟.

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