applied economics

applied economics definition - business

applied economics

The utilization of economic principles for solving real-world problems. For example, a corporate economist might use economic principles of supply and demand to make recommendations on how best to price a new product.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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