Is profit the only purpose of business?
In 1970, economist Dr. Milton Friedman argued that “the sole purpose of a business is to generate profits for its shareholders.” So it can be concluded th...
Published: May 05, 2026
Is economics a dismal science?
“The dismal science” is a derogatory alternative name for economics coined by the Scottish historian Thomas Carlyle in the 19th century (originally in the...
Published: May 05, 2026
What is the role of personal observation?
Personal observation enables the manager to collect first-hand information. It also creates a psychological pressure on the employees to perform well as t...
Published: May 05, 2026
What was the name given to the separation of Eastern and Western Europe after WWII?
The Iron Curtain was a political boundary dividing Europe into two separate areas from the end of World War II in 1945 until the end of the Cold War in 19...
Published: May 05, 2026
What city has the lowest poverty rate?
After years of steady economic expansion and job growth, the U.S. poverty rate stood at 12.3% in 2019 – its lowest level in over a decade and a half…. Bar...
Published: May 05, 2026
What lowrider means?
The lowrider is more than a vehicle; it is a representation and display of Chicano identities informed by experiences with inequality, segregation, and re...
Published: May 05, 2026
What did Oliver Tambo do for South Africa?
Oliver Reginald Kaizana Tambo (27 October 1917 – 24 April 1993), also known as O. R. Tambo, was a South African anti-apartheid politician and revolutionar...
Published: May 05, 2026
How can a government stimulate economic recovery?
Economic stimulus is commonly employed during times of recession. Policy tools often used to implement economic stimulus include lowering interest rates, ...
Published: May 05, 2026
What are 4 productive resources?
The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists di...
Published: May 05, 2026
How property rights can be enforced?
A property can be secured only by following the set of laws and regulations that are enforced by the government. The property rights and ownership of a pr...
Published: May 05, 2026
