Niche Strategy and Corporate Responsibility: Driving Small Business Success
The Competitive Edge of Small Enterprises
Introduction to Niche Marketing
There is a new generation of competitors that has entered the market and is posing a great threat to larger companies. These companies tend to operate on a specific niche, which makes them appear “closer to the customer.”
These companies concentrate on selling to a smaller market. This can help lower costs because specialization creates savings. These small firms can establish a strong image and position in their niche. Niche
Read MoreDevelopment Economics: Policy Tools for Poverty Reduction
Development Economics: Policy, Poverty, and Markets
Labor and Capital Dynamics in Developing Nations
In developing countries, having work does not necessarily mean having a wage, as only a minority of labor income comes from conventional “jobs.” Close to half of the workers are engaged in self-employment. Moreover, wage labor is often low productivity work, with irregular incomes.
Capital Pricing and Public Policies
In developing countries, the price of capital equipment is often “institutionally”
Read MoreEssential Concepts in Business, Finance, and Economics
1. Study Skills
- Cornell Notes: Use three sections—notes, cues (key terms/questions), and a summary.
- Time Management: Plan your time, avoid procrastination, and break tasks into smaller steps.
2. SMART Goals
| Letter | Meaning | Description |
|---|---|---|
| S | Specific | Clear and exact goal. |
| M | Measurable | Progress can be tracked. |
| A | Achievable | Realistic and possible to do. |
| R | Relevant | Fits your needs or future plans. |
| T | Time-bound | Has a set end date or deadline. |
3. Economic Decisions and Systems
Fundamental economic questions: What, how, and for
Read MoreSole Proprietorships: Advantages, Disadvantages, and Structure
Sole Proprietorships
Advantages of Sole Proprietorships
A sole proprietorship is the simplest form of business ownership, offering several key benefits to the owner:
Ease and Low Cost of Formation and Dissolution
No contracts, agreements, or other legal documents are required to start a sole proprietorship. Most are established without even hiring an attorney. A sole proprietor does not pay any special start-up fees or taxes.
Retention of All Profits
All profits earned by a sole proprietorship become
Federal Reserve System and Monetary Policy Quiz Questions
Chapter 4: Federal Reserve and Monetary Policy Questions
US Financial Institutions and Central Bank Functions
1. Fannie Mae and Ginnie Mae Functions
The Federal National Mortgage Association (Fannie Mae) and Government National Mortgage Association (Ginnie Mae):
- issue mortgages directly to consumers.
- provide assistance on down payments to help consumers get into the housing market.
- issue mortgage-backed securities to fund the mortgages that they purchase from financial institutions.
- purchase homes directly
Market Dynamics: Demand Shifts, Supply Changes, and Price Controls
Understanding the Demand Curve
The Law of Demand
If price is on the vertical axis and quantity demanded is on the horizontal axis, the demand curve is downward sloping (left to right).
This slope is the graphical representation of the Law of Demand, which specifies an inverse relationship between price and quantity demanded, ceteris paribus (all other factors held constant).
Movement Along the Demand Curve
- When moving along a specific demand curve, the factor that is not held constant is the price of