Autobiography of a Corporate Slave

An Oligopoly is a market structure in which few large firms dominate the market. When a market is shared between a few firms, it is said to be highly concentrated. Although only a few large firms dominate, it is possible that many smaller firms also operate in the market. Oligopolists may have considerable power to fix prices and output. Oligopolies can result from various forms of collusion between the market participants, which reduce competition and lead to higher prices for consumers. Power is concentrated only in the hands of a few firms, who can dominate the market to gain excessive super normal profits. Oligopolies may be identified using the Concentration Ratios, which measure the proportion of total market share controlled by a given number of firms. When there is high concentration ratio in an industry, economists tend to identify the industry as an Oligopoly. With few sellers, each Oligopolist is likely to be aware of the actions of the others. And the decisions take...

The factors of production are resource inputs used to produce goods and services. It is an economic term describing the general inputs that are used in the production of goods or services in order to make economic profit. Every business utilizes various combinations of factors of production to produce final goods or services. Under the classical view of economics, there are four basic factors of production, which includes Land, Labour, Capital, and Entrepreneurship . Land is the physical space on which the production takes place, as well as natural resources or the raw materials that come from the land, like Crude Oil, Water, Air, Minerals, Ores, Coal, Timber etc.  Labour is the time human beings spend producing those goods and services, as well as the skills and abilities they use to produce the goods and services. Both the quantity and the quality of human resources and all things done either physically or intellectually to keep a business running by the human beings ...

Macroeconomics is the branch of economics that studies how the aggregate economy behaves. It focuses on aggregate expenditure and consumption of a nation or region. The amount saved and spent by all households, the productiveness of the country's labour force, and how actions of the government and central bank stimulate the overall economy. Common Macroeconomic measurements include GDP (the total amount of goods produced by an economy), Unemployment (the % of people in the economy that are not working) and inflation (the rate at which the prices are increasing). Macroeconomists develop models to explain the relationship between a variety of factors such as consumption, inflation, savings, investments, international trade and finance, national income and output to the overall economy, and at what magnitude each factor can affect the economic environment as a whole. They study the aggregated indicators of unemployment rates, GDP and price indices, and then analyse how differe...

Microeconomics is a branch of economics that studies the behaviour of individuals or households or firms (economic agents) in making decisions regarding the allocation of limited resources. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular microeconomics focuses on patterns of supply and demand and the determination of prices and output in individual markets, and that how individual businesses decide how much of something to produce and how much to charge for it.

Business Economics is the part of economic theory which focuses on business enterprise and inquires into the factors contributing to the diversity of organisational structures and to the relationships of firms with labour, capital and product markets. Business economics is concerned with economic issues and problems related to business organisations, their management and strategies.  It tries to explain, why corporate firms emerge and exist, how they expand, the role of entrepreneurs, the significance of organisational structure, the relationship of firms with their employees, their stakeholders, the providers of capital, the customers and the government, the interactions between firms and the business environment.  

Economics is the social science that studies the production, distribution and consumption of goods and services. Economics is the study of how people choose to use resources. Resources include the time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services. Economics studies how people appear to use the resources available to them to improve their well-being. Well-being includes the satisfaction people gain from the products and services they choose to consume, from their time spent in leisure, and with family and community, as well as in the jobs, and the security and services provided by their governments. Economics is the science of choices. Scarcity is the core problem of economics. The fact that the available resources are insufficient to satisfy all desired uses thereof. Economics tries to explain the choices people or households or businesses (economic ag...