Demand Curves Facing the Individual Firm

Patricia M. Hillebrandt

Chapter 13 in Economic Theory and the Construction Industry, 2000, pp 146-160 from Palgrave Macmillan

Abstract: Abstract In discussing the demand curves facing the firm, it is important to realise the diversity of practice across the world. In a substantial number of countries, open or selective tendering is the procurement method for most, often virtually all, of the projects in the formal organised sector. In the description of how work is put to the industry in Chapter 8, about ten alternative procurement methods were described and there are, in fact, many variants of these. However, even in the UK, where some of them have been developed, they are still responsible for procurement in only a relatively small percentage of total construction projects, although, because the projects are generally large, they account for a high percentage of output. This is because many of these procurement methods are not suited either to small projects or to repair and maintenance which, in developed countries, account for a high proportion of the work. In the discussion which follows, attention is given to these unusual projects both because they pose interesting questions for the future shape of the construction industry and because their use is spreading and is likely to spread further.

Keywords: Construction Industry; Demand Curve; None None; Individual Firm; Price Determination (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37248-1_13

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DOI: 10.1057/9780230372481_13

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