Titlebook: Economic Theory and the Construction Industry; Patricia M. Hillebrandt Book 1985Latest edition Patricia N. Hillebrandt 1985 construction.e

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Equilibrium in Various Market Situations a long period are relevant to the usual cost curves of economic analysis which represent the answer to the question: If the output of the firm were higher or lower than a given level, what would be the effect on costs? The remainder of the chapter was devoted to a detailed consideration of this question.

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Conclusions on Costs, Revenue and the Equilibrium of the Contracting Firmindustry (Chapters 4–7), it is appropriate first to summarise the main findings and then to combine them and to draw some conclusions on the equilibrium position of the firm on the two main assumptions of the objectives of the firm, namely profit maximisation and maximisation of turnover with a profit constraint (Chapter 8).

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The Nature of Construction Economicshe construction firm, the construction process and the construction industry. To understand the scope of the subject it is necessary firstly to know what economics is about, and secondly to ascertain why the construction industry deserves a special branch of the subject to itself.

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Some Basic Concepts in Economics flow of the argument in later chapters is not interrupted by a digression to explain their meaning, and also so that they can be used before the stage of the main exposition of their use is reached. First, the meaning of the terms ‘industry’ and ‘market’ as they apply to construction are considered

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Demand for Housing and the purchase of the service or benefit may be made by a group other than the users. These are the social-type goods discussed in Chapter 6. Another group of products is desired because they enable some benefit to be produced, e.g. industrial and commercial building discussed in Chapter 5. The c

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Demand for Industrial and Commercial Building known as derived demand. Its analysis benefits from the concern of economists with the relationships between investment and consumption. The initial discussion will be mainly in terms of industrial building followed by a consideration of the extent to which the same analysis is applicable to commer

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parsimony

Costs of the Construction Firmut that the work load relating to each project is spread over a long period of time. Costs (and revenue: see Chapter 12) have therefore to be examined in three distinct ways. The first is the cost of the project as a whole; secondly, the cost of the total project must be related to the work load ove

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Equilibrium in Various Market Situations a long period are relevant to the usual cost curves of economic analysis which represent the answer to the question: If the output of the firm were higher or lower than a given level, what would be the effect on costs? The remainder of the chapter was devoted to a detailed consideration of this que