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.

What If Everyone Worked Less?

After an experiment at a Swedish nursing home, some people are saying that “less is more.” Where are we going? To the work/life balance. The Swedish Experiment Researchers wanted to find o…

What Happens When the Price Isn’t Right

Maybe 20% of all online prices change daily. Some even change every few minutes. When the Wall Street Journal compared Amazon, Sears and Best Buy, they saw intraday prices bounce between a low of $744…

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