About Economics of Industry
A good grasp of manpower economics is vital for designing and understanding manpower policies and more generally for appreciating how a modern economy functions. Industrial Economics is the study of firms, industries and markets. It looks at firms of all sizes - from local corner shops to multinational giants and` it considers a whole range of industries, such as textile, electricity generation, car production and restaurants etc...When analyzing decision making at the levels of the individual firm and industry, Industrial Economics helps us understand such issues as: the levels at which capacity, output and prices are set;, the extent that products are differentiated from each other; how much firms invest in research and development (R&D), how and why firms advertise