Provides a systematic presentation of the economic field of industrial organization, which is concerned with how productive activities are brought into harmony with the demand for goods and services through an organizing mechanism, such as a free market, and how variations and…
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Industrial organization · Monopoly · Market structure · Natural monopoly · Competition (biology) · Business · Product differentiation · Product (mathematics)
1. Provides a systematic presentation of the economic field of industrial organization, which is concerned with how productive activities are brought into harmony with the demand for goods and services through an organizing mechanism, such as a free market, and how variations and imperfections in the organizing mechanism affect the successful satisfying of an economy's wants.
2. Of the three market mechanisms (tradition, central planning, and free markets), the field of industrial organization deals primarily with the market system approach.
3. This book primarily emphasizes the manufacturing and mineral extraction sectors of industrialized economies, with less discussion of wholesale and retail distribution, services, transportation, and public utilities.
4. Beginning with a discussion of the welfare economics of competition and monopoly, the structure of industries in the U.S.
5. and abroad and their determinants are described, including motives for mergers and their effects.
6. Extended analysis of pricing, product policy, and technological innovation then follows.
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