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.

How Cash Affects What We Buy

Because we tend to value our cash purchases more than what we buy with plastic and direct deposit, the trend to online shopping will affect brand loyalty.…

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