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Economies of scope and scale are often confused, but they are actually quite different. Economies of scope refer to the cost savings that can be achieved by producing two or more products simultaneously. Economies of scale, on the othe...
In this post, we'll provide an overview of managerial economics, and how it can be applied to small businesses. We'll explore topics such as opportunity cost, sunk costs, and economies of scale. By the end of this post, you should have a be...
One of the most important aspects of running a profitable business is understanding and keeping track of financial ratios. This can help give you a clear picture of the financial health of your business and where it stands in comparison to others in th...
In this blog post, we'll take a look at the economic cycle and how it affects businesses and real estate investors. We'll discuss the distinct phases of the economic cycle and how to identify where we are in the current cycle.
The economic cy...