Businesses

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.

  • Everyday economics and Shake Shack

    Fast (and Slow) Food

    Dec 23, 11 • 489 Views • No Comments

    Wendy’s is about to pull ahead of Burger King in the U.S. The reason? People care about their lettuce and the shape of their burgers. Led by new ownership, Wendy’s now has 11 different greens (not just iceberg), a slightly rounded bun......  [read more]

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    Looking back at 2011

    Dec 22, 11 • 395 Views • No Comments

    After looking at these 18 charts, I thought, what you learn depends on whom you ask. Created by Washington Post journalist Ezra Klein, the slide show is from “some of his favorite economists” who were asked for “the graph that had done the......  [read more]

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    Employee Holidays

    Dec 21, 11 • 387 Views • No Comments

    Just some facts today on who gets the most paid time off. According to the Economist, looking at a combination of public holidays and annual leave days for which workers have to be paid, Austria, Greece and France are at the top of the list while Canada,......  [read more]

  • Affecting the cost of animal feed and lowering the amount of milk from cows, the drought is pushing up milk prices.

    A Happy Story From Greece

    Dec 18, 11 • 369 Views • No Comments

    Greece is helping to solve the unemployment problem in upstate New York. When you see a small white container of Fage Greek yogurt (pronounced fa-yeh), instead try to picture a 220,000 square foot U.S. production facility, close to......  [read more]

  • The History of the Elevator is About Innovation and Economic Growth

    Profit Matters

    Dec 15, 11 • 407 Views • No Comments

    During the dot.com bubble, investors gave Boo.com $188 million, Geocities was purchased for 3.57 billion, and pets.com introduced us to sock puppet. None exist today. Startup.com is an excellent documentary about the rise and......  [read more]