Laissez Faire is an 18th century economic theory that opposed any form of government intervention in business affairs. The fundamental principle of laissez faire theory, a French word that translates in English as “leave alone” and in Spanish as “let do,” is that the less the government is involved in the economy, the better business…
Unfair business practices is a term that refers to the use of various deceptive, fraudulent, and unethical methods in order to do or obtain business. Unfair trade practices include false representation, fraudulent advertisements or misleading representation of a good or service, tied sales, false prizes or free samples, or false gifts, deceptive pricing, and failure…
A union is an organization that seeks to represent a collective of workers’ interests in negotiations with their employers about wages, hours of work, benefits and working conditions. Unions are often organizations found in specific industries and tend to be most common in companies engaged in manufacturing, mining, construction, transportation, and the public sector. However,…
Business strategy can be understood as the course of action or set of decisions that assist entrepreneurs in achieving specific business objectives. It is the master plan that management uses to ensure a competitive position in the market, carry out its operations, satisfy customers and achieve the desired goals of the business. In a business,…
The interest rate is the amount, expressed as a percentage of principal, charged by a lender to a borrower (borrower) for the use of property or capital. Interest rates are typically expressed in annual percentages, commonly known as the annual interest rate. Borrowed assets can include capital, consumer goods, and a large sum of assets…
Understanding what public spending is is key to having an accurate image of how the contemporary economy works.
To end some of the confusion surrounding what bitcoin is, we need to separate the concept into two components. On the one hand, we have the bitcoin token, which is a piece of code that represents ownership of a digital concept, something like a virtual promissory note. On the other hand, you have the bitcoin…
Trade policy is an “umbrella term” that describes the regulations and policies that dictate how companies and individuals in one country should conduct trade with companies and individuals in other countries. Trade Policy is sometimes known as trade policy, or international trade policy. Understanding the concept Trade policy is one of the most fundamental purposes…
“Abenomics” refers to a politician’s particular economic policies, in the same sense that Reaganomics or Clintonomics do. This is the name given to Japanese Prime Minister Shinzō Abe’s multi-pronged economic program. The effect of Abenomics As a result of Abe’s policies, the Bank of Japan revealed its inflation measures in 2017, achieving inflation 0.1% higher…
The law of supply and demand is the theory that explains the interaction between the sellers of a resource and the buyers of that resource. The theory defines how the relationship between the availability of a particular product and the desire (demand) for this product defines the price. Generally, low supply and high demand increase…
