By Phyllis Deane, Jessica Kuper

ISBN-10: 0203990277

ISBN-13: 9780203990278

ISBN-10: 0415002346

ISBN-13: 9780415002349

A useful paintings which serves as an advent to the topic and as a reference for all those that have to stay up to date with fiscal pondering.

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3) In-depth studies of the UK and the US suggest that, on average, the 5 firm ratio may be as much as 14 points higher in the UK. Studies of trends over time show a steady and pronounced increase in the UK from 1935 to 1968, with a levelling off in the 1970s. In the US, on the other hand, market concentration has remained fairly constant since World War II. Theories on the causes of concentration include the technology and entry barrier explanation (emanating from the Structure-Conduct-Performance paradigm), and a range of stochastic models based on Gibrat’s Law of Proportionate Effect.

The best-known contributions of Menger’s successors are Böhm-Bawerk’s (1959) attempts to measure capital in terms of waiting time, and his determinants of ‘the’ rate of interest. Wieser (1927 [1914]) should be remembered for his notion that prices are, above all, informative, and therefore necessary for all private and social calculations (an idea which is now usually associated with Mises’s strictures on the impossibility of efficient socialist economies without market prices). Wieser also propounded the leadership role of the creative entrepreneur, an idea which Schumpeter (1952 [1912]) expanded into his theory of innovation and economic development.

1980), Topics in Management Accounting, Oxford. D. (1977), The Anatomy of Accounting, St Lucia, Queensland. J. (1980), Accounting in Business, London. Carsberg, B. and Hope A. (1977), Current Issues in Accounting, Oxford. W. T. (1979), Accounting for Economic Events, Houston. See also: capital consumption; stock-flow analysis. Advertising Advertising is a way of drawing attention to goods offered for sale. Its aim may include the enhancing of a reputation as well as inducing immediate purchase, for example, political and charitable advertising, announcement of corporate trading results, and the sponsorship of sports or cultural events.

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A Lexicon of Economics (Social Science Lexicons) by Phyllis Deane, Jessica Kuper

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