Rational Decision Making
16 Jan 2008Rational decision making involves weighing up the marginal benefit and marginal cost of any activity. If the marginal benefit exceeds the marginal cost. It is rational to do the activity. If the margi...
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ERNEST SENAYA:
business-sense
Economics as a social science
16 Jan 2008Economics concerns human behaviour. One problem here is that individuals often behave in very different ways. People have different tastes and attitudes. This problems, however, is not as serious as i...
business-sense
Gorbachev’s reforms
16 Jan 2008During the 1970s growth had slowed down and by the time Gorbachev came to power in 1985 many people were pressing for fundamental economic reforms. Gorbachev responded with his policy of perestroika, ...
business-sense
Economics and science
16 Jan 2008The methodology employed by economists has a lot in common with that employed by natural scientists. Both attempts to construct theories or models which are then used to explain and predict. An astron...
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business-sense
Capital Assets and Depreciation
16 Jan 2008Almost every business must invest in some major equipment, vehicles, machinery, or furniture in order to operate. Some businesses will require assets such as land, a building, patents, or franchise ri...
business-sense
Early days of Radio
16 Jan 2008Radio astronomy has greatly increased our understanding of the universe. Radio telescope have one bi advantage over conventional telescopes in that they can operate in all weather conditions and can p...
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