Discuss the goals of the firm and explain how firms can achieve internal and external economies of scale in production.

The objectives of the firm can be viewed as the motives of the entrepreneur/s who own and run the firm. There a number of goals that firm can pursue in its day to day operations - it may try to maximise profits, sales or growth, meeting shareholder expectations, or increasing market share. Maximising profits - making the biggest possible profit, or the smallest possible loss - is recognised as the main objective of most …

…is one of the best in the world. The Australian business environment is built upon sturdiness and strength where blue chip companies such BHP Billition and Woolworth's have supported an entire community. Australia is fortunate in the sense that entrepreneurial expertise and business acumen is rewarded well. It is of no surprise that we hear success stories such as Eddy Grove's ABC Learning Centres or John Symond's Aussie Home Loans on such a regular basis.