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2.2 Taking responsibility for your own learning

Not much of this unit conforms to the traditional pattern I mentioned earlier – the theory-example-exercise pattern. In particular, you will find you are expected to discover much of it for yourself. Why is this? This is a legitimate question and deserves a full answer. One year, a student at a residential summer school complained I had not taught him properly. I was, he told me, an expert and so why did I not demonstrate how to tackle the problem he was working on and pass my expertise on
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5 Conclusion

The idea of the double whammy brings together the two driving forces behind changes in industrial structure, with which this unit opened and now closes. The use of a new technology causes a decline in the costs of production, which in turn encourages a rapid take-up by consumers of products embodying the new technology. This unit has explored the factors affecting consumer demand. While the price of the product was found to be of crucial importance, socio-economic influences such as culture a
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4.1 Introduction

This section will explore the interaction of technology and costs with market demand in shaping industrial structure throughout the industry life cycle. Many industries begin as a numerous and turbulent group of firms jostling for position, experimenting with new and idiosyncratic products, and turn into a much smaller, more stable number of firms, making standardised products by routine methods. In this section we add a rather different view of firms to that developed in Author(s): No creator set

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