Hoping to increase its drive-thru speed, McDonald’s has begun to use voice recognition technology to compete against other fast food chains.…
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.
Throwback Thursday: Was Sears, Roebuck the First Amazon?
#TBT: Through the amazingly similar prefabricated houses that they both have sold, we can see why Amazon has been called the new Sears, Roebuck.…
Why the Name of a Country Is Its Brand
Like corporations, countries engage in branding when they change their name or try to influence what the world thinks about them and their products.…
Why New Coke is Back
An innovative disaster, the introduction of New Coke in 1985 generated so massive a protest that no one ever thought it could return…until now.…
Ice Cream Economics
Whether it’s Ooey Gooey Butter Cake or Salted Crack Caramel, your flavor is a part of the ice cream economics of an ultra-premium creamery.…
What the Grocery Store Says About Us
More than a place to buy food, the grocery store says a lot more about the affluence from our GDP and our subjective well-being.…
A Dilemma: How Much to Pay for Our Privacy Protection
There is a doll whose name is Cayla. She has a pink skirt, a denim jacket, and a bluetooth connection. Like many toys, she can have a conversation with us. While these dolls are all Caylas, their manu…
The Rise and Fall of the Subway Five Dollar Footlong
The Subway footlong might never have been a foot long. Six years ago, an Australian teenager posted on Facebook a picture of his 11-inch Subway Footlong. Feeling cheated (I guess), two New Jersey guys…
Throwback Thursday: Remembering Standard Oil When We Look Forward to Amazon
#TBT: Today’s Throwback Thursday looks back to why Standard Oil was divided into 34 companies by the Supreme Court in 1911 and then forward to Amazon.…
Doing a Fractal Zoom Into Our Yearly Pay
Depending on whether you look at national statistics or the numbers on a company basis, employee median pay can look very different.…