What is the significance of the Underground Railroad? What were two advantages of the Jamestown colony location? What was the biggest economic disadvantage for the Confederacy? What was the Suez Canal crisis? What are the advantages and disadvantages of democracy?
Why Is Fair Trade Important? While free market capitalism has delivered the greatest quality of life improvements in the history of civilization for the most people around the world, this incredible engine of innovation can be harmful if it isn't properly regulated. While it's great for people...
What are the disadvantages of privatization? What are some of the advantages and drawbacks to capitalism? How is socialism different from capitalism? What are the biggest impacts of government borrowing? What are the advantages and disadvantages of currency depreciation? What are the benefits of...
Definition and Examples of Comparative Advantage Comparative advantage is what you do best while also giving up the least. For example, if you’re a great plumber and a great babysitter, your comparative advantage is plumbing. This is because you’ll make more money as a plumber because an ho...
Industries in the intelligent age.Technology is now the primary driver of change and disruption across business sectors. To take full advantage of the plethora of opportunities, leaders will need a new tool kit to help themselves, and their organizations, adapt. ...
Economies of scale also give a competitive advantage to large entities over smaller ones. The larger the business, non-profit, or government, the lower its per-unit costs. How to Make Economies of Scale Work for You You don't have to be a corporation to benefit from economies of scale....
The new zoo in the East has the advantage of a dynamic, forceful director, zoologist (Curt) Heinrich Dathe, who managed to wrangle funds out of a cash-strapped GDR to enhance the zoo’s collections and facilities impressively. Construction of the new polar bear habitat for instance was ...
One of the main goals of economic policymakers is efficiency. An economy that is efficient is an economy that is able to maximize its total production. The production is measured using the gross domestic product. Through efficiency, the citizens of a country are able to derive the ...
Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land/natural resources, labor, and capital. An entrepreneur combines the first three of these to manufacture goods or provide services. They typically create abusiness plan, hire labor, acq...
a true race to the bottom is not much of a concern. In the real world, however, where politics and money intersect, races to the bottom occur and they are often followed by the creation of a new law or regulation to prevent a repeat occurrence. Of course, over-regulation also has risk...