Economics Archives

Donald Trump: Foreign Policy and “America First”

What was Donald Trump’s approach to foreign policy? What did his “America First” policy really entail? According to the anonymous author of A Warning, a book on the behind-of-scenes of Trump’s presidency, there were several problems with Donald Trump’s foreign policy. No one even knew what “America First” really meant. He didn’t listen to foreign policy experts and changed important policy positions at a whim. Let’s take a closer look at Trump’s foreign policy problems and their implications.

Are There Different Prices for Different Customers?

Why do brands charge different prices for different customers for nearly identical products/services? Is the higher-priced product really significantly better than its lower-tier option? It’s no secret that companies can charge different prices for different customers. Once you realize that sellers base their prices in part on what they think you’re willing to pay, you can make better decisions about what you buy, where you buy it, and how much to spend on it. In this article, we’ll explore how companies can charge different prices to different customers, and what it means for you as a buyer.

The Key to Making Better Decisions: Forget Experience

Do you find it hard to make decisions? What is the key to making better decisions? Clayton Christensen shows how economic theories can help us with making better decisions in his book How Will You Measure Your Life? Find out why experience isn’t the best guide for your decisions and why you should use theories instead. Keep reading to learn about making better decisions.

Resource Allocation Examples (and Mistakes to Avoid)

Budgeting and Planning: Why Is It So Important?

What are some resource allocation examples you can learn from? How did Apple improve its resource allocation strategy? Why is it sometimes necessary to scrap a project? It’s important that the allocation of resources aligns with strategy in business. By examining real-life resource allocation examples you can understand how to improve your own strategy. Read on to find some resource allocation examples you can learn from.

The Role of Economics in Society: What History Tells Us

What is the role of economics in society? How has it changed over time? Are there certain things that never change? Money is vital in shaping the direction of human history. In The Lessons of History, Will and Ariel Durant discuss the role of economics in society throughout history. They identify patterns that provide insights about the profit motive, wealth inequality and redistribution, and socialism. Read more to learn what history tells us about the role of economics in society.

Examples of Marginal Thinking Gone Wrong

What is marginal thinking? What are some examples of marginal thinking? Does marginal thinking always work? Marginal thinking is where you weigh up the costs and benefits of adding something new. You then decide whether it’s ultimately worth doing. Marginal thinking can be used in many aspects of your life, but it’s commonly used in business to decide if a new venture is worth investing in. Unfortunately, this type of decision-making isn’t always ideal. Read on to find examples of marginal thinking that didn’t work out.

Company Capabilities: What Are They?

What are company capabilities? How can you use capabilities in business? How do you know when to outsource? Company capabilities are the resources, processes, and priorities of a business. This article looks at specific examples of capabilities, whether you should outsource, and some real-life examples of capabilities in businesses. Find out more about company capabilities.

Diversify Your Portfolio: 4 Tips for Better Investing

Do you know how to diversify your portfolio to strengthen your financial security? Do you need some direction with asset diversification? To preserve a steady passive income over time, consider implementing some of the following ideas for diversifying your portfolio. You also could benefit from asking yourself seven questions (found at the end of this article) about asset diversification in your situation. Read on to learn ways you can diversify your portfolio.

Patience in Business: The Key to Long-Term Success

What’s the importance of patience in business? How does patience help you acquire good capital? Clayton Christensen argues in his good money/bad money theory that a company is more likely to be successful if it waits patiently for long-term growth. On the other hand, a lack of patience can lead to the failure of a business. You can use Christensen’s good money/bad money theory to improve your business strategy. Learn about the importance of patience in business.

Calculate Your Net Worth and Lifetime Earnings

Do you know how to calculate your net worth? How much money have you earned over your lifetime? Calculating your net worth and lifetime earnings is part of the process of improving your relationship with money and living a life you love. When you have a clear picture of where you stand, it’s easier to make wise decisions with your money. Read more to learn how to calculate your net worth and lifetime earnings.