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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    Too Big To Fail

    Aug 15, 11 • 330 Views • No Comments

    Imagine for a moment that you are the CEO of a large bank. Offered the opportunity to participate in a risky business deal, you say, “Yes.” If the venture succeeds, you benefit. If it fails and threatens your bank’s survival, the government......  [read more]

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    Sole Rights?

    Aug 12, 11 • 459 Views • 2 Comments

    Suddenly, a red sole has become much more than the bottom of a shoe. The trademark of designer Christian Louboutin, his red soles are supposed to represent glamour, luxury and hidden status. Or, as stated by Mr. Louboutin, “A shoe has so much more to......  [read more]

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    The Cost of Keeping a Team

    Aug 10, 11 • 326 Views • No Comments

    To keep a team, sometimes the stadium makes the difference. The problem, though, is who is going to pay. For the San Diego Chargers, the price tag would be an $800 million sports facility with the city absorbing 65% of the total. On a November 2012 ballot,......  [read more]

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    An Economic Lesson From Marie Antoinette’s Fashion Designer

    Aug 9, 11 • 488 Views • No Comments

    Rose Bertin was the 18th century Alexander McQueen. As Marie Antoinette’s personal fashion guru, she designed massively skirted ornate gowns and 3-foot high poufy hair styles. More than clothing, though, her designs embodied power, presence and......  [read more]

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    Take Me Out to the Ball Game?

    Aug 8, 11 • 299 Views • No Comments

    Fewer people are going to baseball games. Even with a new stadium and a winning season, the Yankees are luring fewer fans. According to Forbes, as of the end of June, stadium revenue was sinking for the Chicago Cubs, St Louis Cardinals and Atlanta Braves, and......  [read more]