The economy has an important role to play in management decisions. Management economics is a discipline that works by researching how economic concepts work in the distribution of resources and in making business decisions. It builds a bridge between economic research and the real-life application of economic practice. Economic studies are conducted under the pretext that resources are naturally limited. During the management of an organization, a business manager must make important decisions for the organization, all of which are essential to the survival of the organization. Resource management is an important part of corporate governance, a task that is aided by a strong economic understanding of management.

The modern business world is transforming first, opening the way for more competitive and more complex business experiences. The need to maintain a strong sense of justice and judgment in order to make sound decisions, has made management economics an important discipline in the business management curriculum. Management decisions involve a variety of decisions.

Management economics provides realistic solutions to the efficient use of resources in an organization. There are three key areas to study economic management:

• Pricing-  This explains how the pricing structures of various goods and services in the market are developed in the commodity market, and how purchasing and selling decisions can be made to create the value of an organization. Management economics takes into account pricing decisions regarding consumer behavior, manufacturing activity and pricing as determined by various market entities.
• Distribution- The supply chain management sector seeks to understand how productive assets (land, labor, finance and business) are put into business to deliver better.
• Welfare- This economic aspect of governance seeks to define how consumers gain the highest satisfaction when it comes to achieving the highest level of productivity in an organization. Such productivity is achieved when management resource allocation work is done strategically and strategically.

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