Portal:Business
The Business and Economics PortalBusiness is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...) Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses the economy as a system where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. (Full article...) Selected articleIdlewild and Soak Zone, commonly known as Idlewild Park or simply Idlewild, is a family amusement park situated in the Laurel Highlands near Ligonier, Pennsylvania, United States, about 50 miles (80 km) east of Pittsburgh, along US Route 30. Founded in 1878 as a campground along the Ligonier Valley Railroad by Adam Moranduzzo, Idlewild is the oldest amusement park in Pennsylvania and the third oldest operating amusement park in the United States behind Lake Compounce and Cedar Point. The park has won several awards, including from industry publication Amusement Today as the best children's park in the world. Selected image
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The economy of Ohio nominally would be the 20th largest global economy behind Turkey and ahead of Switzerland according to The World Bank as of 2022. The state had a GDP of $822.67 billion in 2022, which is 3.23% of the United States total, ranking 7th in the nation behind Pennsylvania and ahead of Georgia. In 2013, Ohio was ranked in the top ten states for best business climate by Site Selection magazine, based on a business-activity database. The state was edged out only by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development. (Full article...)
Selected quote"In most job markets the employer is not sure of the productive capabilities of an individual at the time he hires him. Nor will this information necessarily become available to the employer immediately after hiring. The job may take time to learn. Often specific training is required. And there may be a contract period within which no recontracting is allowed. The fact that it takes time to learn an individual's productive capabilities means that hiring is an investment decision. The fact that these capabilities are not known beforehand makes the decision one under uncertainty. To hire someone, then, is frequently to purchase a lottery. In what follows, I shall assume the employer pays the certain monetary equivalent of the lottery to the individual as wage. If he is risk-neutral the wage is taken to be the individual's marginal contribution to the hiring organization."
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