The Essence of Business Economics

The Essence of Business Economics

by Joseph G. Nellis, David Parker

Paperback(REV)

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Product Details

ISBN-13: 9780135731307
Publisher: Prentice Hall Professional Technical Reference
Publication date: 06/18/1997
Series: Essence of Management Series
Edition description: REV
Pages: 240
Product dimensions: 6.12(w) x 9.20(h) x 0.51(d)

Table of Contents

Preface to the first edition xi(2)
Preface to the second edition xiii
1 The essence of business economics: an overview
1(19)
The essence of business economics
1(1)
Basic concepts in business economics
2(10)
The competitive environment
12(5)
Concluding remarks
17(1)
Key learning points
17(2)
Topics for discussion
19(1)
2 The analysis of consumer demand
20(24)
The essence of consumer demand
20(1)
The market demand curve
21(3)
Consumer surplus
24(1)
The determinants of demand
25(1)
The classification of products
26(3)
Concepts of elasticity
29(7)
The relationship between price elasticity and sales revenue
36(3)
Concluding remarks
39(1)
Key learning points
40(2)
Topics for discussion
42(2)
3 The analysis of production costs
44(26)
The essence of production costs
44(1)
The production function
45(2)
Variable costs versus fixed costs
47(1)
Production decisions in the short run and long run
48(1)
Diminishing returns in production
49(2)
Maximizing profit and the production decision
51(2)
Economies and diseconomies of scale
53(7)
The experience curve
60(1)
Optimal scale and x-inefficiency
60(3)
The firm's supply curve
63(3)
Elasticity of supply
66(1)
Concluding remarks
66(1)
Key learning points
67(2)
Topics for discussion
69(1)
4 The competitive environment
70(29)
The essence of the competitive environment
70(1)
Competitive strategy
71(2)
Perfect competition
73(3)
Monopoly
76(7)
Monopolistic competition
83(2)
Oligopoly
85(5)
Competitive advantage
90(5)
Concluding remarks
95(1)
Key learning points
96(2)
Topics for discussion
98(1)
5 Managerial objectives and the firm
99(17)
The essence of managerial objectives
99(4)
Agency theory
103(3)
Managerial theories
106(5)
Behavioural theories
111(2)
Concluding remarks
113(1)
Key learning points
114(1)
Topics for discussion
114(2)
6 Understanding pricing strategies
116(27)
The essence of pricing strategies
116(1)
Price determination and managerial objectives
117(3)
Generic pricing strategies
120(5)
Pricing and the competitive environment
125(2)
The marketing mix and the product life cycle
127(4)
The economics of price discrimination
131(3)
Pricing in multi-plant and multi-product firms
134(3)
Peak-load pricing
137(1)
Pricing policy and the role of government
137(3)
Concluding remarks
140(1)
Key learning points
140(2)
Topics for discussion
142(1)
7 Investment appraisal
143(13)
The essence of investment appraisal
143(1)
The investment selection process
144(2)
Estimating cash flows
146(1)
Evaluating and ranking investment projects
147(4)
Undertaking a cost-benefit analysis
151(1)
Concluding remarks
152(1)
Key learning points
153(1)
Topics for discussion
154(2)
8 Understanding the labour market
156(12)
The essence of the labour market
156(1)
The demand for labour
157(3)
The supply of labour
160(4)
Collective bargaining
164(1)
Concluding remarks
165(1)
Key learning points
166(1)
Topics for discussion
167(1)
9 Government and business
168(18)
Introduction
168(2)
The principles of state intervention
170(2)
Macroeconomic policy
172(3)
Industrial policy
175(3)
Competition law
178(3)
Regional policy
181(3)
Concluding remarks
184(1)
Key learning points
184(1)
Topics for discussion
185(1)
10 Business and economic forecasting
186(22)
The essence of business and economic forecasting
186(2)
Collecting information on consumer behaviour
188(3)
Statistical estimation of demand relationships
191(7)
Forecasting demand
198(7)
Concluding remarks
205(1)
Key learning points
205(2)
Topics for discussion
207(1)
11 Business economics - a check list for managers
208(6)
Check list for business success
210(2)
Topics for revision
212(2)
Appendix: Sources of business economics data for managers 214(4)
UK sources 214(2)
International sources 216(2)
References for further reading 218(2)
Index 220

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