Scale of production relates to the size of a business organization. Before Industrial Revolution, production was carried on a small-scale. But large-scale production has become the rule in modern...
Monopoly means absence of competition. Monopolist is the sole seller of a commodity. Under monopoly, the price of a good is determined by the interaction of supply and demand, but in a different way..
Economic Organization is the act of coordinating the other factors of production – land, labor and capital. Organization performs a very important function in modern production...
The law of diminishing returns is one of the most eminent concepts in the theory of production function. The modern version of the law of diminishing returns is known as law of variable proportions...
A history of the Industrial Workers of the World, commonly known as "Wobblies," and discussion of current economic issues surrounding the UAW, Teamsters, and other labor unions; in light of the proposed bailout plans.
Revealing fact from fiction with the truth about the United States' Two Dollar Bill.
Money is certainly not one of the basic needs that sustain life, but it's really not something we can effectively live without
Difference between Domestic and International Trade. Conducting and managing international business operations is more complex than undertaking domestic business.
This is a response to Edexcel A-level Geography Unit 3, June 2012, question 4 (b).
Socialism vs Capitalism includes economic freedom, standard of living, collectivization, property rights, central planning, prosperity, liberty, global government, Utopia, Schumpeter, Hayek, & Pipes.