Cash Cow
A cash cow refers to a business or product that generates a steady and significant cash flow with minimal investment or effort required.
Microeconomics
The brand of economics that looks at the behaviour of individuals and businesses. In other words, it examines how consumers and businesses react to changes in variables. For example, how do consumers react to price changes and how does quality affect this decision making.
Intrinsic Value
Intrinsic value refers to the underlying or inherent worth of an asset, based on its fundamental characteristics and cash flow potential.
Constant Returns to Scale
Constant Returns to Scale (CRS) refers to a production or cost structure where increasing all inputs by a certain proportion leads to an equivalent proportionate increase in outputs or costs.
Business Ethics
Business ethics refers to the moral principles and values that guide the behavior and decision-making of individuals and organizations in the business context.
Assembly Line
Table of Contents What is an Assembly Line? Understanding the Assembly Line History of the Assembly Line Types of Assembly Lines Advantages of the Assembly Line Disadvantages of the Assembly Line Examples of Assembly Lines FAQs Assembly Line: Definition, Pros, Cons & Examples Written by Paul Boyce Posted in Microeconomics > Division of Labor Last
Medium of Exchange
A medium of exchange is a commonly accepted item or form of currency that is used to facilitate the buying and selling of goods and services.
Antitrust Laws
Antitrust laws are regulations that promote fair competition and prohibit practices that restrict trade, prevent monopolies, and protect consumer welfare.
Economic Freedom
Economic freedom is the ability of individuals and businesses to make voluntary economic decisions and engage in free market activities without excessive government interference.
Production Possibilities Frontier
The Production Possibilities Frontier (PPF) represents the different combinations of two goods an economy can produce given its resources and technology, illustrating trade-offs and opportunity costs.
Cartel
A cartel in economics is an organization or group of firms that collude to restrict competition and control market prices by coordinating their production levels and pricing strategies.