Skip to content

Economy Wise

Economy for Today

  • About

1.2.1

1.2.1 Reflection Theme 1 

What Companies Strive For

June 12, 2018August 31, 2018 admin objectives, profit, profit maximisation

Just because some economists claim that owners of firms want to maximise their reward for ownership, their profit, does not necessarily make it true. Although we might observe that many owners of firms try to maximise their profit, this does not mean owners of firms, or firms, cannot have other objectives.

Read more
Get new posts by email

Recent Posts

  • The Laffer effect at work? February 22, 2019
  • Frozen Fries Fray December 8, 2018
  • Fuel subsidies reforms November 27, 2018
  • Economic Literacy October 9, 2018
  • What is a public good? September 25, 2018

Categories

Tags

advertising elasticiy allocation assumptions business model climate change consumer surplus cost demand division of labour doughnut model economic goods economic model economic system excess supply experiments free goods functions of money government intervention income elasticity inferior goods luxuries market market externalities normal goods normative statement objectives positive statement price elasticity price mechanism private goods producer surplus production possibility frontier profit profit maximisation public goods rational economic man scarce goods scarcity specialisation subsidy supply supply curve systems thinking wants waste
Copyright © 2021 Economy Wise. All rights reserved.
Theme: ColorMag by ThemeGrill. Powered by WordPress.