Summarizes the core concepts of microeconomics of markets that are most relevant to business strategy. Sections I and II of the development of two main building blocks of any market, supply and demand. Section II discusses how supply and demand interact to determine the number of items sold in the market and the price paid for the goods, with special attention to the fact that external events affect the quantity sold and the price. Section IV presents an important milestone "perfect competition", which is equally relevant firms to compete so well and time to market is so easy that no firm earns more than its cost of capital. Section V explores the ways that real care market form of perfect competition. These deviations are the basis of long-term profitability. "Hide
by Kenneth Corts, Jan W. Rivkin, 19 pages. Publication Date: March 30, 1999. Prod. #: 799128-PDF-ENG
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