MANAGERIAL ECONOMICS NOTES
| Institution | UNIVERSITY |
| Course | MANAGERIAL ECONOMICS |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Rose Oloo |
| File Type | |
| Pages | 243 Pages |
| File Size | 4.84 MB |
| Views | 6825 |
| Downloads | 1 |
| Price: |
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Description
Countless firms have used the well-established principles of managerial economics to improve their profitability. Managerial economics draws on economic analysis for such concepts as cost, demand, profit and competition
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For all engineering works it is required to know beforehand the probable cost of construction known as estimated cost. If the estimated cost is greater than the money available then attempts are made to reduce the cost by reducing the work or by changing the specifications. In preparing the estimate, the quantities of different items are calculated by simple maturation method and from these quantities the cost
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Estimating and Costing I
It is a bill of quantities that is organized according to trades in the order in which they appear in the building and a sum of it given. It is also called sectional bills of quantities because work is divided into sections in which they appear in the construction project such as excavation works, roofing, concreting, etc.
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