An economy is a place of interaction, production, distribution and exchange, and the learning and sharing of various goods and services by various agents. In simple terms, it is defined as ‘a social domain that relate to the production, exchange,
Businesses, for the most part, are considered to be an economy whether they exist in a state of perfect balance or at a state of disequilibrium. An economy is a place of the generation, distribution and exchange of products and
What is structural unemployment? It sounds like a terrible thing to be told you are suffering from, but it isn’t. Structural Unemployment is actually just a type of unemployment that is caused by an imbalance between the skills employers demand
Operations management is primarily concerned with supervising, planning and organizing in all the contexts of manufacturing, producing or the supply of goods. In simple terms it can be said to cover the whole gamut of personnel from top management down
Economies of scope concentrate on the average price of production of various products. However, economies of scope differ from markets of volume because the market of the volume focuses on the volume of output of a firm while economies of
An economic profit or income is the excess amount that a company has got from the outputs it has produced compared to the amount it has invested in its inputs, which include the raw materials, working capital and other fixed
By Paul Sleath, CEO at PEO Worldwide This year, COVID regulations mean employers around the world have had to grapple with a rapidly evolving legal landscape. And 2021 looks set to continue throwing fresh challenges at organisations with plenty of
By Paul Sleath, CEO at PEO Worldwide We recently looked at some of the regulatory changes and new legislation UK businesses need to be aware of for 2021. But what about our friends across the pond? In the US, there
The worst financial recession since the great depression has resulted in mass unemployment across the United States. The pain is being felt now in the poorest regions of the country, struggling even prior to the latest recession and even after
Economies of scope are an economic concept which refers to the reduction in the overall cost of production while also referring to the increase in output. The concept is very useful for those businesses which operate on a small scale
A good’s price elasticity of demand exactly is a measure of the degree to which it is sensitive to its cost. It is very sensitive to price increases, but not so sensitive to price decreases. If the price increases by
Debt to equity ratios are important in determining an individual’s financial health. It’s not just the numbers that count but how they are presented. Credit rating services typically takes a look at debt to equity ratios. However, what many people