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Tag: Business

Business Blog

Living Economics: The Three Main Benefits of Trade

While the benefits (and costs) of trade are numerous, economists tend to prioritize three key “gains” that the economy receives from domestic and global trade. Read more to learn about specialization, absolute advantage, and comparative advantage Continue reading Living Economics: The Three Main Benefits of Trade

deceptivelyblondeOctober 27, 2020Leave a comment
Business Blog

Living Economics: Production Possibility Frontier (PPF)

The PPF is a model or graph demonstrating the trade-off involved in shifting production between two products where all resources are already in use. This article incorporates clear charts and examples to demonstrate how the PPF works. Continue reading Living Economics: Production Possibility Frontier (PPF)

deceptivelyblondeOctober 19, 2020October 30, 20201 Comment
Business, Business Blog

Living Economics: The Resource Management System

The Resource Management cycle is divided into four stages (Create, Gather, Trade, Divide), each with the possibility for disruptions to arise and each having its own issues and concerns. Continue reading Living Economics: The Resource Management System

deceptivelyblondeOctober 8, 2020October 15, 20201 Comment
Business Blog

Living Economics: Tools of the Trade

Economics is the study of how and why people, organizations, and governments create, gather, trade, and divide resources. Continue reading Living Economics: Tools of the Trade

deceptivelyblondeSeptember 28, 2020Leave a comment
Business, Business Blog

Living Economics: Value Creation

Value Creation is the process of creating new, greater value from the same, original resource. This generally occurs through manufacturing, trade, or marketing Continue reading Living Economics: Value Creation

deceptivelyblondeJune 6, 2020October 3, 20201 Comment
Business, Business Blog

Living Economics: The World of Resources

The five principal ways to categorize resources include:

1) Natural Resources v. Man-Made Resources
2) Unlimited Resources v. Limited Resources
3) Tangible Resources v. Intangible Resources
4) Variations of Business Assets
5) Capital v. Labor Continue reading Living Economics: The World of Resources

deceptivelyblondeJune 2, 2020July 31, 20202 Comments
Business, Business Blog

Living Economics: What is Economics?

Economics is the study of how and why people, organizations, and governments create, gather, trade, and divide resources. Continue reading Living Economics: What is Economics?

deceptivelyblondeMay 28, 2020July 31, 20201 Comment
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