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Theory Of The Firm-are Firms J
Beginning of paper
Firms are in business for a simple reason: To make money. Traditional economic theory suggests that firms make their decisions on supply and output on the basis of profit maximisation.
However many Economists and managerial Scientists in our days question that the sole aim of a firm is the maximisation of profits.
The most serious critique on the ....
Middle of paper
....personal utility.
This behaviour strikes the critical observer regularly when for example reading or watching the financial media. Managers there often rather mention the rises in sales or the growth of their company rather then the profits. Some economists like Begg (1996) argued that managers have an incentive to promote growth as managers of la.... |
| Word count: 1231 |
Page count: 5 |
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