Economic development is about creating freedom for people and removing obstacles to greater freedom. Greater freedom enables people to choose their own destiny. Obstacles to
Category: economics
Understanding Between Economic and Accounting Profit
Economic profit consists of revenue minus implicit (opportunity) and explicit (monetary) costs; accounting profit consists of revenue minus explicit costs. The term “profit” may bring
Understanding Economic Growth
What is ‘Economic Growth’ Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of
How the Stock Market Works
When you buy a share of stock, you become a part owner in a publicly held company. But what does that actually mean? Let’s take
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