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Applied Economics is a recent development in the subject of economics. By Applied Economics, the application part of any economic policy is to be considered without which an economic theory in itself would be rendered useless. Economic Theories are propounded every other day, but without a practical use to itself, the same may not be fruitful. Presently, all major countries are reluctant to develop their own economy and make the same powerful owing...
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Macroeconomic forces affect all of us in our daily lives. Inflation rates influence the prices we pay for goods and services and, in turn, the value of our incomes and our savings. Interest rates determine the cost of borrowing and the yield on bank accounts and bonds, while exchange rates affect our command over foreign products as well as the value of our foreign assets. And all of this represents just the tip of the iceberg. Numerous macro variables-ranging...
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To many people, economics is as confusing as physics. Just as
we use physics every day even if we don't know its technical
aspects, we all use economics on a daily basis even if we don't
know its technical aspects. Yet, unlike physics, introductory
Economics is not as difficult as it might appear at first.
However, it is true that economists speak a different "language"
in the sense that we often use terms that are not common in
everyday conversation.
For...
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Economics of any country determines the growth of the country. The subject is of utmost importance to know the exact status of a Nation in comparison to others, especially in the present globalized world. Both the branches namely, microeconomics and macroeconomics, has its own significance in compounding the economic conditions. Macroeconomics deals with the larger picture and provides the aggregate of all the factors which affects the country as...
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The advancement of business investigation as an expert control has developed the part and obligations of the business analyst (BA). Progressively, BAs are connected with an early point. They research thoughts and issues, detail choices for a path forward and create business cases setting out their decisions and suggestions. Therefore, the obligation regarding exhorting associations on successful game-plans lies with BAs, and their work goes before...
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The world of marketing has shown immense growth since its birth and is continually growing. The business companies in the market run into neck-to-neck competition with each other and thus it has become important for each and every business company to be the best. The kind of strategies that a company uses within its different marketing sectors greatly determines the successfulness of a company.
“Pricing Strategies” can be defined as a way or...
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Paul Collier is a faculty in Economics and presently working in the capacity of Director of Oxford University's Center for the Study of African Economies and also he was previously the Director of the World Bank Development Research. He is the creator of many distinguished books to his credit viz., Wars, Guns and Votes: Democracy in Dangerous Places and also authored the award-winning book, The Bottom Billion.
Wide new rifts are breaking apart Britain's...
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Nobody can deny the importance of currency in the financial or economic world. With the advancements in technology, there was a need for some digital way to store data. Then Blockchain arrived and changed the thinking of people and businesses. Yes, Blockchain is definitely a breakthrough in the digital financial world and it is going to be the stronger technology for future generations.
Big companies, as well as businesses, have felt the importance...
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There is no simple way to explain how economy works. Economy depends on various factors. The economy of the USA is not same as the economy of India. Globalization is real but still different countries have different economy even today. Argentina once faced a huge economic crisis, and in time to time, there were global economy crisis. Productivity, transactions, demands decide the economy. There are multiple theories of how the economy work. Economy...
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In a world where women have a greater opportunity to work and earn, Sheryl Sandberg introduces her readers to the many problems a woman has to face at work, in the society and at home as she tries juggle her life as a mother, a wife, and an aspiring, career-oriented professional. Her book, Lean In, received a lot of praise from readers, mostly women, who have been seeking success in their careers. At the same time, the book has been criticism too....
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Now for everyone to contemplate, here's a host of riddles, what should one do in a specific scenario? When penalty kick activity is repeated 10-15 times, which side will an individual incline towards to reduce the goals scored being the goalkeeper? Or where will one aim at for your scoring pattern to be maximized? What action would a player make if he has inferences about kicker and goalkeeper from precedence that occurred in the past? That is a tough...
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The law of the Supply and Demand is a vital concept and part of the economy of the world. This is a concept which is followed by every country and every place in order to make good progress in the product of the goods and services, in the fulfillment of the various demands of the consumers. It is an important aspect which shows the relationship between the various resources and the demands of those resources. The supply is also an important aspect...
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It is not a secret that to attain success in investment, an investor would have to buy at low and sell high. Perhaps the problem is that most people lack psychic power. There are experts who can tell about some of the most common mistakes investors make and while it is easy to chase the hot possessions, it is the less obvious pitfalls to look out for.
Because these less obvious, and sometimes almost negligible snares can lead to bigger consequences.
It's...
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To define productivity at the workplace in simple words, it is about how efficiently an organization's employees achieve their company's goals and objectives and produce best goods or services to meet their customers' demands and expectations.
Maintaining great levels of productivity at the workplace can help the companies in reducing expenditures, increase the satisfaction level of customers and other stakeholders, go for expansion plans, and stay...
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Gold teeth, Grey Goose, diamonds, tiger on a gold leash, Maybach — everything luxurious is the topic of conversation that points to the peak of one's life. Much like Lorde's Royals music, there are times when people can't even make sense why would you spend millions of dollars on skincare, branded bags, and sports cars. How does a business that relies on ideas that don't make sense sell their products? What is the logic behind the illogical actions...
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Statistics has been derived from the Latin word 'status, an Italian word 'statist' or a German word 'Statistic', all of which means a 'political state'. The use of statistics has been employed in various fields like biostatics, agriculture, economics, sociology, business management etc.
The field of statistics is not afresh, and its beginning can be dated back to the times of the beginning of the human activities. However, the utilization of statistics...
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Nassim Nicholas Taleb is a Lebanese born American literateur, scholar, essayist, trade-cum-risk analyst, statistician and so on.
His multi-faceted talent and the ability to wander freely amongst diverse faculty of subjects have made him a force to reckon with in the gamut of global intellectual society. Most of Taleb's works are related to the dilemma of volatility, probability and uncertainty.
Nicholas Taleb was born in Amioun (Lebanon) in the...
18) Negotiations
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Negotiation can be termed as a result-oriented discussion or conversation between two or more people with the purpose being reaching a mutually-beneficial conclusion. In most instances, the result benefits all parties, but there are times some or single member of that party carries the day. With negotiation skill, one can easily resolve differences among the participants in that discussion to achieve a beneficial outcome for the groups and individuals...
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To Take good decisions to not to face uncertainty, mathematical finance, helps quite a lot. Building on the mathematical models of bonds and the stocks prices, simulation theories for mathematical financing vary with leads in different directions: Black—Scholes arbitrage pricing of options is one of the significant revealing theories used extensively in mathematical financing research and studies. Markowitz portfolio optimization for a Capital Asset...
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Brainstorming exists at the core of every organization working at different levels and in different stages as companies try to stay ahead in the competitive race. It is recognized as the efforts of a team to find a solution for a problem with the help of a list of ideas which are contributed by the members of the team. Not only does it help in solving problems more effectively, it also creates a level of camaraderie in the team by motivating and developing...
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