Contents
1Theessenceofbusinesseconomics:anovewiew
Theessenceofbusinesseconomics
Basicconceptsinbusinesseconomics
Thecompetitiveenvironment
Concludingremarks
2Theanalysisofconsumerdemand
Theessenceofconsumerdemand
Themarketdemandcurve
Consumersurplus
Thedeterminantsofdemand
Theclassificationofproducts
Conceptsofelasticity
Therelationshipbetweenpriceelasticityandsalesrevenue
Concludingremarks
3Theanalysisofproductioncosts
Theessenceofproductioncosts
Theproductionfunction
Variablecostsversusfixedcosts
Productiondecisionsintheshortrunandlongrun
Diminishingreturnsinproduction
Maximizingprofitandtheproductiopdecision
Economiesanddiseconomiesofscale
Theexperiencecurve
Optimalscaleandx-inefficiency
Thefirm'ssupplycurve
Elasticityofsupply
Concludingremarks
4Thecompelitiveenvironment
Theesseqceofthecompetitiveenvironment
Competitivestrategy
Perfectcompetition
Monopoly
Monopolisticcompetition
Oligopoly
Competitiveadvantage
Concludingremarks
5Managerialobiectivesandthefirm
Theessenceofmanagerialobjectives
Agencytheory
Managerialtheories
Behaviouraltheories
Concludingremarks
6Understandingpricingslrategies
Theessenceotpricingstrategies
Pricedeterminationandmanagerialobjectives
Genericpricingstrategies
Pricingandthecompetitiveenvironment
Themarketingmixandtheproductlifecycle
Theeconomicsofpricediscrimination
Pricinginmulti-plantandmulti-productfirms
Peak-loadpricing
Pricingpolicyandtheroleofgovernment
Concludingremarks
.
7Inveqtmentappraisal
Theessenceofinvestmentappraisal
Theinvestmentselectionpro;ess
Estimatingcashnows"
Evaluatingandrankinginvestmentproiects
Undertakingacost-benefitanalysis"''
Concludingremarks"
8Undentandingthelabourmarket
Theessenceofthelabourmarket
Thedemandforlabour
Thesupplyoflabour
Collectivebargaining
Concludingremarks
9Covemmentandbusiness
Introduction
Theprinciplesotstateintervention
Macroeconomicpolicy
Industrialpolicy
Competitionlaw
Regionalpoliry
Concludingremarks
10Businessandeconomicforeeasting
Theessenceofbusinessandeconomicforecasting
Collectinginformationonconsumerbehaviour
Statisticalestimationofdemandrelationships
Forecastingdemand
Concludingremarks
11Businesseconomics-achecklistformanagers
Checklistforbusinesssuccess
Appendix:sourcesofbusinesseconomicsdatafirmanagers
UKsources
Internationalsources
Referencesforfurtherreading
Index