industrial economics

industrial economics

or

industrial organization

the branch of economics concerned with the functioning of the PRICE SYSTEM. Industrial economics examines the interrelationships between MARKET STRUCTURE, MARKET CONDUCT and MARKET PERFORMANCE, utilizing the analytical framework of the THEORY OF MARKETS but within an empirical and dynamic setting. See MARKET STRUCTURE-CONDUCT-PERFORMANCE SCHEMA.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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