Understanding how price changes and consumer preferences impact sales.
What elevates "Economics For Business" above a dry theoretical tract is the lavish use of mini-cases. Typical examples include: Economics For Business David Begg Damian Ward
Using the concept of , the authors explain how incumbents keep rivals out. If a dominant firm builds excess capacity (a factory that can produce 1 million units but only makes 500k), it signals to potential entrants that if they join the market, the incumbent will flood the market and crash the price. Economics For Business David Begg Damian Ward