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3.6.5 Objectives of firms

Topic 3.6.5 - Objectives of firms The objectives of firms refer to the clearly defined and measurable goals or targets of a firm. The Cambridge IGCSE Economics (0455) syllabus specifies that students need to understand the following four objectives of firms: (1) survival, (2) social welfare, (3) profit maximisation, and (4) growth. 1. Survival Survival refers to any action taken by firms to remain operational or in...

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