Administrative & Support and Waste Management & Remediation Services

The Administrative and Support and Waste Management and Remediation Services sector is important in the economy of any country. Industries are required to ensure that they can effectively manage waste in line to ensure that the environment is preserved. In recent years
waste management and remediation services have become overly important. With an increase in the
production capacity of many industries, it has become important for companies to embrace effective and
efficient waste management practices. Environmental laws have been created, and this means that waste
management has to be in line with these environmental laws. Innovation and the use of new technology
have become necessary in line with the goal of decontamination of plants and cleaning surface water.
With the number of industries increasing every day, it is possible to claim that the industry is
continuously growing and evolving.
Industry Goods and Services
The Administrative and Support and Waste Management and Remediation Services specializes in
the provision of waster management and other support related services. Office administration, security,
and surveillance services are some of the services that are provided by the industry. Administrative
activities are mainly performed on a fee basis. In addition to administration services, cleaning, and waste
disposal are also some of the services that are offered by this industry.
Market Structure and Characteristics
An analysis of the industry reveals that the market is a perfect competition market. There is no
barrier to entry, and there are a large number of small firms. No single firm has exerted considerable
market control. All firms in the industry are selling identical services. Clients can thus switch between
different producers (1). Firms do not have the ability to charge high prices since this would mean that they
would lose out on important clients. In addition, one important characteristic that makes the market a
perfect competition market is a perfect knowledge (1). Firms that need waste management services are
aware of the sellers’ prices. Firms can easily compare the prices of two different companies. Then firms in

3

the industry have access to the same production techniques. While innovation may differentiate how each
firm undertakes its waste management programs, no firm possesses special information that can boost its
production process.

4

Microeconomic Relationships, Market Outcomes, and/or Trends
One of the main trends in the use of advanced technologies. New and innovative technologies
have been implemented both in waste management and recycling. The industry is embracing new
machinery and relying on innovative ways to treat wastes and ensure compliance with environmental
standards (2). The world has increasingly become environmentally conscious, and this means that all
firms have to ensure that they come up with measures that will guarantee the safe treatment of wastes.
Consolidation within the industry is also an emerging trend. Small companies are increasingly
consolidating, and this is ensuring that they can have an impact on the market.
How Government Intervention May Impact the Industry
The government can make waste management services a public good. The government can offer
waste management to companies free of charge. The implication is that this would reduce the incentive of
the firms to innovate (2). Since taking care of the environment is in the best interest of the public, the
government may step up efforts to manage the situation.

5
Sources

1. Kolmar, M., & Hoffmann, M. (2018). A Second Look at Firm Behavior Under Perfect
   Competition. In Workbook for Principles of Microeconomics (pp. 105-132). Springer, Cham.
2. Jonsson, P. O. (2018). Trends in waste management in relation to increased recycling. Annals of
   Agricultural and Environmental Medicine, 4(1), 3-6.