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Encyclopedia > Firms

Firm can have several meanings:

  • Firm - a loose legal term for a company.
  • Firm - an economic term, used to describe a collection of individuals grouped together for economic gain. Popularised in Ronald Coase's The Nature of the Firm (1937).
  • Firm - an English slang phrase for a criminal gang.

  Results from FactBites:
 
The Firm - Mobile Personal Trainers (386 words)
The brains and brawn behind 'The Firm' is 29 year old Personal Trainer and Sports Therapist Henry Furniss, who launched the company at the dawn of the new millennium.
'The Firm's' main philosophy is a clear cut, no-nonsense approach to achieving great results with emphasis on good efficient training and the right diet - all very simple, very fl and white.
Both have relied on their academic backgrounds to become accomplished health writers in their own right, whilst keeping their finger on the pulse by helping to train 'The Firm's' rapidly growing client list that includes a number of leading celebrities and models.
PThy_Chapter_9.rtf(wd) (16343 words)
The effect on one firm of the increased price of inputs caused by the increase in that firm's consumption may be negligible, while the effect on all of the firms of the increased price of inputs caused by the increased consumption of all of the firms is not.
The firm makes an economic profit only if its profit in the accounting sense is enough to more than just pay the stockholders for the use of their capital--to give them a return greater than the normal market return on the amount they invested in the firm.
If the industry is closed--new firms are not permitted--the supply curve for the industry is simply the horizontal sum of the supply curves of the firms that make it up, with some possible complications due to the effect of the quantity that the industry produces on the price of its inputs.
  More results at FactBites »


 

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