Industrial organisation

Industrial organization is like playing a game with a lot of players who are trying to win. The players are businesses who are all trying to make money by selling things to people.

In this game, different businesses might sell similar or different things, but they all want to be the best at selling it. They might try to make their product better, offer it at a lower price or advertise it more.

The game also has rules, which are the laws and regulations that govern how businesses can compete. These rules help prevent any unfair advantages for one player or another.

There are also important factors outside of the game that can affect how well a business does. For example, how much it costs to make their product and the price of materials they need to make it.

Overall, industrial organization is about studying how businesses interact with each other and their customers to make the most money possible in a fair and competitive way.