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The structure of commerce

In: Shipping Economics

Author

Listed:
  • S. G. Sturmey

Abstract

Economical ocean transportation demands efficiency in the design and operation of ports and ships. If efficiency of these elements is secured then the costs incurred in ocean transportation will be as low as they can be within the existing structure of trade. In terms of economic jargon one would say that cost function has been minimised within the constraint of the given institutional framework.

Suggested Citation

  • S. G. Sturmey, 1975. "The structure of commerce," Palgrave Macmillan Books, in: Shipping Economics, chapter 16, pages 227-234, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02548-0_16
    DOI: 10.1007/978-1-349-02548-0_16
    as

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