Externalities – Explained + Examples
Externalities are costs or benefits that are not reflected in the price of a good or service, but instead are
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Definitions
Explaining simple or complex business or startup or entrepreneurship related words.
Run On The Bank – Bank Runs Explained + Examples
A “run on the bank” is a financial crisis that occurs when a large number of people try to withdraw
Read MoreExchange Rate – Explained
An exchange rate is a term used in finance and economics to describe the value of one currency compared to
Read MoreEmployment Law – Explained
Employment law is a branch of the legal system that deals with the rules, regulations, and rights related to the
Read MoreEmployee Benefits – Explained + Examples
Employee benefits are non-wage compensations provided by employers to their employees in addition to their regular salary or wages. These
Read MoreElasticity in Business – Explained + Case Studies.
Elasticity in business refers to the degree to which changes in one economic variable affect another. Specifically, it measures the
Read MoreE-commerce – Explained
E-commerce refers to the process of buying and selling goods or services online. It involves using electronic platforms such as
Read MoreEconomic Systems + Examples
An economic system is a complex network of institutions, laws, and policies that govern the production, distribution, and consumption of
Read MoreEconomies of Scale – Explained + Examples
Economies of scale refer to the phenomenon where the cost of producing a unit of output decreases as the scale
Read MoreEconomic Indicators – Explained + Examples
An economic indicator is a metric or data point that provides important information about the health of an economy. Economic
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