Industrial organization is a field of economics dealing with the strategic behavior of firms, regulatory policy, antitrust policy and market competition. Industrial organization applies the economic theory of price to industries. Economists and other academics who study industrial organization seek to increase understanding of the methods by which industries operate, improve industries’ contributions to economic welfare, and improve government policy in relation to these industries. The industrial in industrial organization refers to any large-scale business activity, such as tourism or agriculture — not just manufacturing. Industrial organization is also sometimes referred to as industrial economy.
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