The next best alternative (desired product or service) which you give up, becomes lost opportunity. It is known as the opportunity cost of your decision.
Posts published in “Year: 2021”
Business activity is everywhere. Doing everything in our lives by ourselves may not sound like a bad idea. We can save money being in control of the process.
There are not enough of these factors of production in the world. This creates scarcity - not enough goods and services to meet needs and wants of population.
Businesses require resources for the production of goods and services. The resources used in the production processes are called factors of production.
Business organization must satisfy needs and wants of their consumers profitably in order to be successful on the market. Customers have many needs and wants.
Business activity is everywhere. Doing everything in our lives by ourselves may not sound like a bad idea. We can save money, lots of money.
The production process is the process of turning inputs into outputs. Inputs are resources and outputs are final products: goods and services.
Today, I would like to share with you a few of my favorite quotes about quality of life that were spoken out by well-known people around the world.
What is meant by business activity? Business activity is the process of producing goods and providing services to satisfy consumer demand.
This wisdom was inspired by The Four Books, Chinese classic texts introducing the core values and beliefs in Confucianism, a way of life taught by Confucius.
In Business Organization and Business Environment an overview of business management, both as a topic of study and as a professional practice will be provided.
I am describing the main sections of my business website. My business activity revolves around publishing articles about business management on the Internet.
Your mantra should be concise, short and clear, so anyone can chant it in their minds throughout the day. Create your mantra now.
Living longer. The purpose of my life is to be healthier, so I can live longer. Therefore, I can enjoy every single moment of my life.
Almost every day on television, radio and the Internet we are exposed to arguments that in order to have better lives, we need to buy more and more stuff.
By understanding core Economics concepts, individuals gain insights into how individuals, societies and governments navigate the world.