UNIT 3

The Firm and its Objectives a) Objectives b) Size of businesses Revenue, Costs and Profit a) Revenue b) Costs c) Economies and diseconomies of scale d) Profit Market Structures and Contestability a) Perfect competition b) Monopolistic competition c) Oligopoly d) Monopoly e) Monopsony f) Contestability Government Intervention to Promote Competition a) Government intervention to protect consumers, suppliers and employees b) Government intervention to promote international competitiveness c) Government policy towards transnational companies (TNCs)