Integrative Social Contracts Theory is a theory of business ethics originated by Thomas Donaldson and Thomas... 1  The Advantages of a Social Contract Theory.he goal of Integrative Social Contracts Theory is to provide a framework by which managerial and business decisions can be made with respect to their impact on relevant communities, ethical norms and possible universal moral standards.
Course Description: Industrial organization is the study of how industries function and. how firms interact within an industry. While this is part of the general agenda of. microeconomics, industrial organization distinguishes itself by its emphasis on the study. of firm behavior in imperfectly competitive markets.
This at once leads to a general. definition of Economics. Economics is the social science that studies economic activities. This definition is, however, too broad. It does not specify the exact manner in which the. economic activities are to be studied. Economic activities essentially mean production, exchange. and consumption of goods and services. However, with the progress of civilisation, the. complexity of the production, exchange and consumption processes in society have increased. manifold.