TY  - BOOK
AU  - Sloman,John
AU  - Hinde,Kevin
AU  - Garratt,Dean
TI  - Economics for business
SN  - 9780273722526 (pbk.)
U1  - 330 22
PY  - 2009///
CY  - Harlow, England
PB  - Financial Times/Prentice Hall
KW  - Managerial economics
KW  - Economics
KW  - Business
KW  - Commerce
N1  - Previous ed.: 2007; Previous ed.: / John Sloman, Mark Sutcliffe. 2004; Includes bibliographical references and index; Part A; Business and economics --; 1; The business environment and business economics --; 1.1; The business environment --; 1.2; The structure of industry --; 1.3; The determinants of business performance --; 2; Economics and the world of business --; 2.1; What do economists study? --; 2.2; Business economics: the macroeconomic environment --; 2.3; Business economics: microeconomic choices --; 3; Business organisations --; 3.1; The nature of firms --; 3.2; The firm as a legal entity --; 3.3; The internal organisation of the firm --; Part B; Business and markets --; 4; The working of competitive markets --; 4.1; Business in a competitive market --; 4.2; Demand --; 4.3; Supply --; 4.4; Price and output determination --; 5; Business in a market environment --; 5.1; Price elasticity of demand --; 5.2; The importance of price elasticity of demand to business --; 5.3; Other elasticities --; 5.4; The time dimension of market adjustment --; 5.5; Dealing with uncertainty --; Part C; Background to demand --; 6; Demand and the consumer --; 6.1; Marginal utility theory --; 6.2; Demand under conditions of risk and uncertainty --; 6.3; The characteristics approach to analysing consumer demand --; 7; Demand and the firm --; 7.1; Estimating demand functions --; 7.2; Forecasting demand --; 8; Products, marketing and advertising --; 8.1; Product differentiation --; 8.2; Marketing the product --; 8.3; Advertising --; Part D; Background to supply --; 9; Costs of production --; 9.1; The meaning of costs --; 9.2; Production in the short run --; 9.3; Costs in the short run --; 9.4; Production in the long run --; 9.5; Costs in the long run --; 10; Revenue and profit --; 10.1; Revenue --; 10.2; Profit maximisation --; Part E; Supply: short-run profit maximisation --; 11; Profit maximisation under perfect competition and monopoly --; 11.1; Alternative market structures --; 11.2; Perfect competition --; 11.3; Monopoly --; 11.4; Potential competition or potential monopoly? The theory of contestable markets --; 12; Profit maximisation under imperfect competition --; 12.1; Monopolistic competition --; 12.2; Oligopoly --; 12.3; Game theory --; Part F; Supply: alternative strategies --; 13; An introduction to business strategy --; 13.1; What is strategy? --; 13.2; Strategic analysis --; 13.3; Strategic choice --; 13.4; Business strategy in a global economy --; 13.5; Strategy: evaluation and implementation --; 14; Alternative theories of the firm --; 14.1; Problems with traditional theory --; 14.2; Alternative maximising theories --; 14.3; Multiple aims --; 15; Growth strategy --; 15.1; Growth and profitability --; 15.2; Constraints on growth --; 15.3; Alternative growth strategies --; 15.4; Internal growth --; 15.5; External growth through merger --; 15.6; External growth through strategic alliance --; 15.7; Explaining external firm growth: a transactions costs approach --; 16; The small-firm sector --; 16.1; Defining the small-firm sector --; 16.2; The survival, growth and failure of small businesses --; 16.3; Government assistance and the small firm --; 17; Pricing strategy --; 17.1; Pricing and market structure --; 17.2; Alternative pricing strategies --; 17.3; Price discrimination --; 17.4; Multiple product pricing --; 17.5; Transfer pricing --; 17.6; Pricing and the product life cycle --; Part G; The firm in the factor market --; 18; Labour markets, wages and industrial relations --; 18.1; The UK labour market --; 18.2; Market-determined wage rates and employment --; 18.3; Firms with power in the labour market --; 18.4; The role of trade unions --; 18.5; The efficiency wage hypothesis --; 18.6; Low pay and discrimination --; 18.7; The flexible firm and the market for labour --; 19; Investment and the employment of capital --; 19.1; The pricing of capital and capital services --; 19.2; The demand for and supply of capital services --; 19.3; Investment appraisal --; 19.4; Financing investment --; 19.5; The stock market --; Part H; The relationship between government and business --; 20; Reasons for government intervention in the market --; 20.1; Markets and the role of government --; 20.2; Types of market failure --; 20.3; Government intervention in the market --; 20.4; The case for less government intervention --; 20.5; Firms and social responsibility --; 21; Government and the firm --; 21.1; Competition policy --; 21.2; Policies towards research and development (R&D) --; 21.3; Policies towards training --; 22; Government and the market --; 22.1; Environmental policy --; 22.2; Transport policy --; 22.3; Privatisation and regulation --; Part I; Business in the international environment --; 23; Globalisation and multinational business --; 23.1; Globalisation: setting the scene --; 23.2; What is a multinational corporation? --; 23.3; Trends in multinational investment --; 23.4; Why do businesses go multinational? --; 23.5; The advantages of MNC investment for the host state --; 23.6; The disadvantages of MNC investment for the host state --; 23.7; Multinational corporations and developing economies --; 24; International trade --; 24.1; Trading patterns --; 24.2; The advantages of trade --; 24.3; Arguments for restricting trade --; 24.4; The world trading system and the WTO --; 25; Trading blocs --; 25.1; Preferential trading --; 25.2; Preferential trading in practice --; Part J; The macroeconomic environment --; 26; The macroeconomic environment of business --; 26.1; Macroeconomic objectives --; 26.2; Economic growth --; 26.3; Unemployment --; 26.4; Inflation --; 26.5; The business cycle and macroeconomic objectives --; 26.6; The circular flow of income --; 27; The balance of payments and exchange rates --; 27.1; The balance of payments account --; 27.2; The exchange rate --; 27.3; Exchange rates and the balance of payments --; 27.4; Fixed versus floating exchange rates --; 28; Banking, money and interest rates --; 28.1; The meaning and functions of money --; 28.2; The financial system --; 28.3; The supply of money --; 28.4; The demand for money --; 28.5; Equilibrium --; 29; Business activity, employment and inflation --; 29.1; The determination of business activity --; 29.2; The relationship between money and GDP --; 29.3; Unemployment and inflation --; 29.4; Inflation targeting and unemployment --; 29.5; Business cycles --; Part K; Macroeconomic policy --; 30; Demand-side policy --; 30.1; Fiscal policy --; 30.2; Monetary policy --; 30.3; Attitudes towards demand management --; 31; Supply-side policy --; 31.1; Supply-side problems --; 31.2; Market-orientated supply-side policies --; 31.3; Interventionist supply-side policies --; 31.4; Regional policy --; 32; International economic policy --; 32.1; Global interdependence --; 32.2; International harmonisation of economic policies --; 32.3; European economic and monetary union --; 32.4; Alternative policies for achieving currency stability
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