Prepare a 1000 essay for each of your chosen questions.
- Consider transaction costs in the construction sector. Explain their impact on the tendering process and on how a market price for construction work is determined. Discuss other factors that influence contractors’ bid prices, and the effects they may have.
- Productivity in the construction sector is frequently reported as lagging behind productivity in other manufacturing sectors. Explain why this might be, taking into account the particular characteristics of construction as a productive process, as well as to how productivity can be measured.
Sample Solution