A statistical study of construction productivity from 1917 to 1957. - Page 25 |
Save page Remove page | Previous | 25 of 145 | Next |
|
small (250x250 max)
medium (500x500 max)
Large (1000x1000 max)
Extra Large
large ( > 500x500)
Full Resolution
All (PDF)
|
This page
All
|
expenditures in the United States.^
Following housing we find the private industrial and
commercial market, consisting of factories, public utility
plants, and commercial plants of all kinds representing
together more than one fourth of the total construction
expenditure. In third place is public construction made up
of federal, state, and local expenditures for various types
of public structures. Under more or less normal conditions
anywhere from one fifth to one third of total new construction
may fall into this category. The balance consists
of hospitals, schools and institutional buildings
plus farm construction.
Pricing the Product
The demand for construction is. generally considered
to be inelastic and consequently most industry groups view
cost reduction as having little effect on the volume of
sales. Although general data on the actual quantitative
relationships is lacking, Haber and Levinson 7 have summarized
their findings as follows:
The extent of price elasticity undoubtedly varies greatly, of course, as between various products. The volume of public construction, particularly by the
L "Total Construction Activity," Survey of Current
Business, XL (July, 1957) > 2l_|_.
7'William Haber, and Harold M. Levinson, Labor
Relations and Productivity in the Building Trades "(Ann Arbor: Bureau of Industrial Relations, University of
Michigan, 1956)> PP« 15-16•--------------- -- J
Object Description
Description
| Title | A statistical study of construction productivity from 1917 to 1957. - Page 25 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | expenditures in the United States.^ Following housing we find the private industrial and commercial market, consisting of factories, public utility plants, and commercial plants of all kinds representing together more than one fourth of the total construction expenditure. In third place is public construction made up of federal, state, and local expenditures for various types of public structures. Under more or less normal conditions anywhere from one fifth to one third of total new construction may fall into this category. The balance consists of hospitals, schools and institutional buildings plus farm construction. Pricing the Product The demand for construction is. generally considered to be inelastic and consequently most industry groups view cost reduction as having little effect on the volume of sales. Although general data on the actual quantitative relationships is lacking, Haber and Levinson 7 have summarized their findings as follows: The extent of price elasticity undoubtedly varies greatly, of course, as between various products. The volume of public construction, particularly by the L "Total Construction Activity," Survey of Current Business, XL (July, 1957) > 2l_|_. 7'William Haber, and Harold M. Levinson, Labor Relations and Productivity in the Building Trades "(Ann Arbor: Bureau of Industrial Relations, University of Michigan, 1956)> PP« 15-16•--------------- -- J |
