Formally called the theory of the firm, the business category focuses on ownership, production and competition. Our goal is to understand business behavior. For ownership, topics include the corporation and sole proprietorships. For production, the focus involves maximizing profits. With competition, topics relate to a continuum that spans the 4 basic market structures: perfect competition, monopolistic competition, oligopoly and monopoly.

  • Cashing out?

    Mar 22, 12 • 584 Views • No Comments

    By Mira Korber, guest blogger. They say “cash is king.” But these days, perhaps cash was king. Sweden is becoming a “cashless society.” Commuters pay bus fees via credit card and text message. Religious institutions take......  [read more]

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    Burger Wars

    Mar 21, 12 • 888 Views • No Comments

    By Mira Korber, guest blogger. Times have changed. Wendy’s is now the second largest fast food chain restaurant in the US. This interesting Atlantic article describes how Wendy’s savvy marketing pushed BK from second place to third. By focusing on......  [read more]

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    The Apple I and the iPad

    Mar 19, 12 • 552 Views • No Comments

    Steve Jobs had been pruning Gravenstein apple trees at the All One Farm and was on one of his “fruitarian diets” when he and Steve Wozniak tried to figure out a name for their new firm. Rejecting Matrix, Executek and Personal Computers Inc., Jobs......  [read more]

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    Unconventional Jobs

    Mar 14, 12 • 438 Views • No Comments

    By Mira Korber, guest blogger. Repairing the US employment situation will prove a long battle. As you read yesterday, at current growth rates, it could take eight years for American employment to fully recover. Out of this labor morass, an unusual employment......  [read more]

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    Employment’s Bottomless Pit

    Mar 13, 12 • 512 Views • No Comments

    By Mira Korber, guest blogger. The U.S. economy added 227,000 jobs in February. That’s more than the 210,000 jobs economists forecast for the month, though the current unemployment rate is still high: 8.3%. (For a different take on the issue, read......  [read more]