Contents Definition of trust.. Need of studying competition to understand com- Most writers assume free competition contrary to facts of business life.... Prices often not fixed by competition... Competition more nearly free in wholesale trade, but the element of combination remains.... ΙΟ ΙΟ Amount of capital needed for plant determines nature Case of the sugar industry. Nature of competition when little capital is needed.. In latter case combination is natural CHAPTER II THE WASTES OF COMPETITION Competitive prices usually high... Wastes of competition distinguished from those of .... Competitive prices at times higher than monopoly Distribution of machinery in large combination.... Business ability a factor in cheap production Skilful organization an absolute saving of energy A good executive gets best work from subordinates. |