Why firms have different objectives
Why firms have different objectives
A business objective is a target that guides decisions about price, output and investment. Although traditional theory assumes profit maximisation, firms may instead maximise revenue, maximise sales or satisfice.
Step-by-step lessons on Edexcel A A Level Economics 3.2.1 Business objectives. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.