Understanding the advantages and disadvantages of the free market economy can help people make better decisions.
Maslow's hierarchy of needs pyramid is a theory that is still alive and is used by different branches of science such as marketing in order to meet the needs of customers.
More than 100 examples of the tertiary sector, also known as the service sector, consists of the provision of services rather than the production of goods.
Capitalism is one of the most important social phenomena in history and today, let's look at some of its most interesting characteristics.
This article covers the role of self-interest, decentralization, division of labor, unintended consequences and potential drawbacks of the Invisible Hand.
This article explains with several examples from everyday life the concept of the invisible hand applied to everyday life.
This article discusses different points of view with examples to understand the application of the concept of division of labor in daily life.
Discover the importance of Secondary Economic Activity in today's global economy. From manufacturing and construction to technology and innovation, explore how this sector contributes to the growth and development of businesses and societies around the world.
In this article we will discover the concept of the Heckscher-Ohlin Model, practical examples, its characteristics and criticisms.
This article will explore the different concepts of substitute goods, practical examples, their characteristics and the different types of goods that exist.
This article is essential reading for anyone interested in understanding the importance of primary economic activities with clear and precise examples.
A well-detailed explanation of the different types of currency markets that exist today, with examples.
Here we explain 9 essential functionalities in which experts use the foreign exchange market.
From the United States, through Canada, Chile, to Spain, Germany, Japan and Italy; these are some of the examples where economic cycles are reflected in history.