• Julian Gough
  • Stephen Hill


While individual firms may differ in their objectives the main activity of all firms is the production of commodities — either goods or services. The production activity consists of a variety of tasks and operations of varying complexity depending on the nature of the product and the size of the firm.


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Further reading

  1. A. Koutsoyiannis, Modern Microeconomics, 2nd ed. (London: Macmillan, 1979) chap. 3.Google Scholar
  2. J. M. Heineke, Microeconomics for Business Decisions: Theory and Applications (Englewood Cliffs, N.J.: Prentice-Hall, 1976) chaps. 3 and 4.Google Scholar

Copyright information

© Julian Gough and Stephen Hill 1979

Authors and Affiliations

  • Julian Gough
  • Stephen Hill

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