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.

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    Income Tax Matters

    Apr 22, 11 • 306 Views • No Comments

    Woodrow Wilson once said that paying taxes was a “glorious privilege.” However, a recent Gallup poll confirmed what we probably already knew. Most of us do not want to pay higher taxes. Upper income households (67% of those polled) say current...  [read more]

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    Aspirational Pecans

    Apr 20, 11 • 374 Views • No Comments

    Our story starts with the walnut. Loved in China, and always cheaper than pecans, during 2007, suddenly, the walnut became relatively expensive. Following the law of demand, Chinese consumers bought fewer walnuts and more pecans. And that was when they...  [read more]

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    Coupon Economics

    Apr 16, 11 • 308 Views • No Comments

    When Starbucks raised its prices during the beginning of 2010, it lowered the price of a tall regular to $1.70. But, if you wanted a splash of foam, a shot of espresso, or a touch of flavor, the addition could be expensive. For a triple grande soy vanilla...  [read more]

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    Baseball Salaries and Taxes

    Apr 14, 11 • 252 Views • No Comments

    There is a connection between baseball and President Obama’s budget proposals. Let’s start with USA Today’s baseball salary database. For 2011, at $32 million, NY Yankees’ 3rd baseman Alex Rodriguez earns the most; #2 is LA...  [read more]

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    Internet Distractions

    Apr 8, 11 • 264 Views • No Comments

    At work, we “should not be watching that excellent new video of a schnoodle howling along to its own piano playing.” Yes? According to New Yorker journalist James Surowiecki, the answer actually is, “No.” Citing recent academic...  [read more]