Table of contents for Economics for business and management : a student text / Alan Griffiths, Stuart Wall (eds.).

Bibliographic record and links to related information available from the Library of Congress catalog.

Note: Contents data are machine generated based on pre-publication provided by the publisher. Contents may have variations from the printed book or be incomplete or contain other coding.


Counter
Contents
	Guided Tour xii
	Preface xv
	Acknowledgements xvii
Part I Micro Business Environment 1
1	Markets and resource allocation 3
	Wants, limited resources and choice 4
	Demand curves and functions 5
	Supply curves and functions 13
	Price determination 20
	Changes in market price and quantity 22
	Resource allocation in different economic systems 34
	Key Terms 38
	Key Points 39
	Assessment Practice 40
2	Demand, revenue and consumer behaviour 45
	Price elasticity of demand (PED) 46
	Price elasticity of demand (PED) and revenue 48
	Total, average and marginal revenue 55
	PED and tax incidence 56
	Other elasticities of demand 64
	The 'Veblen effect' and consumer behaviour 69
	Consumer surplus 72
	Utility and consumer behaviour 73
	Key Terms 81
	Key Points 82
	Assessment Practice 82
3	Supply, production and cost 89
	The factors of production 90
	Combining factors of production: the laws of returns 93
	Costs of production: short run 95
	Costs of production: long run 102
	Deciding whether to produce in the short run and the long run 110
	Price elasticity of supply (PES) 114
	Outsourcing and cost 117
	Governments, location and cost 120
	Producer surplus 123
	Key Terms 125
	Key Points 125
	Assessment Practice 125
4	Business organisation, objectives and behaviour 131
	Types of business organisation 132
	Business objectives: maximising 139
	Business objectives: non-maximising behaviour 146
	Does firm objective matter? 148
	Profit, ethics and the environment 151
	Business behaviour 153
	Corporate governance 158
	Product life cycle 162
	Key Terms 164
	Key Points 164
	Assessment Practice 165
5	Firm size, mergers and the 'public interest' 171
	Small to medium-sized enterprises (SMEs) 172
	Small firm survival 173
	Small firms and the UK economy 179
	Growth in firm size 181
	Mergers: who benefits? 183
	Types of merger activity 185
	Explanations of merger activity 189
	Demerging 193
	Mergers and the public interest 194
	Key Terms 196
	Key Points 197
	Assessment Practice 198
6	Market structures 203
	Perfect competition 204
	Contestable market theory 213
	Monopoly 215
	Monopolistic competition 222
	Oligopoly 226
	Key Terms 243
	Key Points 244
	Assessment Practice 244
7	Labour and other factor markets 251
	Factor payments and derived demand 252
	Occupational differences in wages and employment 257
	Imperfectly competitive labour markets 259
	UK labour market regulations 261
	EU Social Chapter 267
	Work-life balance 270
	Gender and ageism 272
	Transfer earnings and economic rent 274
	Key Terms 276
	Key Points 277
	Assessment Practice 277
8	Market failure, regulation and competition 281
	Types of market failure 282
	Correcting 'market failures' 286
	Regulation 295
	Deregulation and privatisation 299
	Regulation of privatised companies 304
	UK competition policy 305
	EU competition policy 311
	Key Terms 314
	Key Points 315
	Assessment Practice 315
Part II Macro Business Environment 321
9	National income determination 323
	National income 324
	National income: definitions and measurement 328
	National income data: international comparisons 333
	Components of the circular flow 338
	Equilibrium in the circular flow: WyJ approach 343
	Equilibrium in the circular flow: 45¡ diagram approach 349
	Equivalence of the two approaches 354
	Changes in national income 358
	National income multiplier 360
	Inflationary and deflationary gaps 365
	Key Terms 367
	Key Points 368
	Assessment Practice 368
10	Government policies: instruments and objectives 373
	Fiscal policy 374
	Taxation 375
	Government expenditure 383
	Fiscal policy and stabilisation 386
	Monetary policy 389
	Aggregate demand and aggregate supply analysis 395
	Inflation 399
	Employment and unemployment 405
	Balance of payments 412
	Exchange rate 414
	Economic growth 418
	Key Terms 421
	Key Points 422
	Assessment Practice 423
11	Demographic and social environment 429
	Demographic patterns and trends 430
	Action to defuse the 'demographic time-bomb' 434
	Socio-cultural patterns and trends 437
	Lifestyles and social attitudes 442
	Business implications of demographic and social changes 446
	Key Terms 451
	Key Points 452
	Assessment Practice 452
12	Political, legal, ecological and technological environment 457
	Political environment 458
	Legal environment 465
	Ecological environment 475
	Technological environment 480
	Key Terms 484
	Key Points 485
	Assessment Practice 485
13	Functions of management: domestic business environment 491
	Marketing 492
	Marketing mix 497
	Human resource management 505
	Accounting and management 514
	Key Terms 528
	Key Points 529
	Assessment Practice 530
14	International business environment 537
	The internationalisation process 538
	International business environment 547
	Multinational enterprise (MNE) 553
	International human resource management (IHRM) 556
	International marketing 559
	International marketing mix 565
	European Union (EU) 576
	North America 579
	East and South East Asia 582
	International institutions and international business 586
	Free trade and government protectionism 590
	Key Terms 597
	Key Points 598
	Assessment Practice 598
15	Strategies in a globalised business environment 605
	Strategic frameworks for corporate activity 606
	SWOT and PESTLE analyses 611
	Porter's Five Forces analysis 621
	Portfolio analysis 626
	National strategic perspectives 627
	Globalisation and strategic options for MNEs 630
	Strategic joint ventures and alliances 642
	Key Terms 646
	Key Points 647
	Assessment Practice 648
16	Leisure, hospitality and sports sectors 653
	Changing economic structure 654
	The particular nature of services 658
	Leisure sector 664
	Hospitality sector 671
	Sports sector 674
	Key Terms 678
	Key Points 679
	Assessment Practice 679
	Appendix 1 Indifference curves, budget lines and the 'law of demand' 687
	Indifference maps 688
	Deriving the demand curve: indifference analysis 689
	Imperfect information and loss of consumer welfare 695
	Appendix 2 Isoquants, isocosts and production 697
	Isoquants 697
	Isocost lines 698
	Economic efficiency 699
References 701
List of contributors 704
Answers to Checkpoints and Activities 705
Index 737

Library of Congress Subject Headings for this publication:

Managerial economics.
Economics.
Business.
Management.