Business

Marginal analysis

Marginal analysis is used by businesses to decide on future strategies and approaches. The basic concept can be explained by considering that there will often be the opportunity to carry out a particular task, but there’s usually a need to…

Opportunity Cost

Understanding opportunity cost from an economic point of view is an important lesson for any business that wants to be successful. Regardless of your industry or niche, there is always going to be a price to pay for convenience. In…