Portal:Business and economics

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Introduction

Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets. A professional focus of the journal Business Economics has been expressed as providing "practical information for people who apply economics in their jobs." Business economics is an integral part of traditional economics. It is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, Business economics is concerned with the application of economic theory to business management.

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Cracker Barrel Old Country Store, Inc. is an American chain of combined restaurant and gift stores with a Southern country theme. The company was founded by Dan Evins in 1969; its first store was in Lebanon, Tennessee, which remains the company headquarters. The chain's stores were at first positioned near Interstate highway exits in the Southeastern and Midwestern US, but it has expanded across the country during the 1990s and 2000s. As of September 18, 2012, the chain operates 630 stores in 42 states.


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A typical North American grain farm with farmstead in Ontario, Canada.
Photo credit: Genghiskhanviet

A farm is an area of land that is devoted primarily to agricultural processes or an area of water that is devoted primarily to aquacultural processes, in order to produce and manage such commodities as fibres, grains, livestock, or fuel. It is the basic production facility in food production. Farms may be owned and operated by a single individual, family, community, corporation or a company. A farm can be a holding of any size from a fraction of a hectare to several thousand hectares.

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US county household median income 2009.png

The United States of America is the world's largest single national economy. The United States' nominal GDP was estimated to be $17.295 trillion as of Q2 2014, approximately a quarter of nominal global GDP. Its GDP at purchasing power parity is also the largest of any single country in the world, approximately a fifth of the global total. The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Its six largest trading partners are Canada, China, Mexico, Japan, Germany, and Italy.


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"Condit's successors once again emphasized civil aviation. The 777 is a success, and the Dreamliner appears a better vehicle for the future than the huge Airbus 380. By 2008, Boeing had regained from Airbus its leading position in commercial aviation and the share price its earlier value. At Boeing, as at ICI, shareholder value was most effectively created when sought obliquely.

That profit-seeking paradox, like the conundrum of happiness, illustrates the power of obliquity. Comparisons of the same companies over time are echoed in contrasts between different companies in the same industries. Jim Collins and Jerry Porras undertook paired comparisons between outstanding ('visionary') companies and adequate, but less remarkable firms with similar operations. Merck and Pfizer was one such comparison. Collins and Porras compared oblique philosophy of George Merck-'We try never to forget that medicine is for the people. It is not for the profits. The profits follow, and if we have remembered that, they have never failed to appear. The better we have remembered it, the larger they have been'-with the directness of John McKeen of Pfizer-'So far as humanly possible, we aim to get profit out of everything we do'."

John Kay, Obliquity, 2010

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  • ...the term petrodollars was coined by Ibrahim Oweiss to describe dollars that did not circulate inside the United States, and therefore were not part of the normal money supply, and instead were received by petroleum exporting countries (OPEC) in exchange for oil?

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