The essence of business economics: an overview
The essence of business economics
Basic concepts in business economics
The competitive environment
Concluding remarks
The analysis of consumer demand
The essence of consumer demand
The market demand curve
Consumer surplus
The determinants of demand
The classification of products
Concepts of elasticity
The relationship between price elasticity and sales revenue
Concluding remarks
The analysis of production costs
The essence of production costs
The production function
Variable costs versus fixed costs
Production decisions in the short run and long run
Diminishing returns in production
Maximizing profit and the production decision
Economies and diseconomies of scale
The experience curve
Optimal scale and x-inefficiency
The firm's supply curve
Elasticity of supply
Concluding remarks
The competitive environment
The essence of the competitive environment
Competitive strategy
Perfect competition
Monopoly
Monopolistic competition
Oligopoly
Competitive advantage
Concluding remarks
Managerial objectives and the firm
The essence of managerial objectives
Agency theory
Managerial theories
Behavioural theories
Concluding remarks
Understanding pricing strategies
The essence of pricing strategies
Price determination and managerial objectives
Generic pricing strategies
Pricing and the competitive environment
The marketing mix and the product life cycle
The economics of price discrimination
Pricing in multi-plant and multi-product firms
Peak-load pricing
Pricing policy and the role of government
Concluding remarks
Investment appraisal
The essence of investment appraisal
The investment selection process
Estimating cash flows
Evaluating and ranking investment projects
Undertaking a cost-benefit analysis
Concluding remarks
Understanding the labour market
The essence of the labour market
The demand for labour
The supply of labour
Collective bargaining
Concluding remarks
Govemment and business
Introduction
The principles of state intervention
Macroeconomic policy
Industrial policy
Competition law
Regional policy
Concluding remarks
Business and economic forecasting
The essence of business and economic forecasting
Collecting information on consumer behaviour
Statistical estimation of demand relationships
Forecasting demand
Concluding remarks
Business economics - a check list for managers
Check list for business success
Appendix: sources of business economics data for managers
UK sources
International sources
References for further reading
Index
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