Business Economics: The Application of Economic Theory

Front Matter....Pages i-xvi
Introduction....Pages 1-6
Firms and Markets: Identifying the Optimal Boundary....Pages 7-29
The Organisation of the Firm: Efficiency, Incentives and Controls....Pages 30-41
Operations and Costs: The Core of the Conversion Process....Pages 42-70
The Costs of Support Activities: The Neglected Costs....Pages 71-89
Cost Identification: Accounting versus Economic Perspectives....Pages 90-105
Financial Control: Constraints on Management....Pages 106-119
Investment: Increasing the Value of the Firm....Pages 120-142
Demand: Understanding the Customer and the Market....Pages 143-170
Competition and Monopoly: Responding to the Competitive Environment....Pages 171-195
Oligopoly: Living with Rivals....Pages 196-218
Corporate Strategy: Acquiring and Sustaining Competitive Advantage....Pages 219-248
Government and the Firm: The Impact of Economic Management....Pages 249-267
Competition Policy Government Regulation of Competitive Behaviour....Pages 268-286
The Natural Environment: Problems and Opportunities....Pages 287-307
Case Study: The Airline Industry....Pages 308-373
Back Matter....Pages 374-414