Business

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.

Why the Big Mac is Like a Model T

Waiting in line at the McDonald’s drive-through, just think 90 seconds. The most you are supposed to wait, 90 seconds is one half of the McDonald’s formula. Always aiming for speed, years …

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