Financial independence helps a comfortable life during our sunset years. Let us try to become financially independent by following the simple tips mentioned in this article....

Economics is all about how decisions related to economic goods are taken in the real world. Opportunity cost is crucial in such decision making, and constitutes the actual cost that is relevant in economics. Being different from financial costs, it can sometimes be a challenge to determine it, especially when policy decisions need to be taken by the state for benefit of its citizens....

To address the twin challenges of global warming and the negative impacts of volatile oil prices, we need to leverage all potential policy tools at our disposal. Subsidy for public transport can be one of the most efficient among them. An analysis of economics of public transport and its comparison with private transport justifies the feasibility of such subsidy....

Government policies and technology are ensuring that business transactions and business operations are becoming more visible and trackable. It is becoming increasingly difficult and expensive to evade taxes and to hoard or transact in cash. It is also getting increasingly easier to go cashless and to be banked. Businesses of all sizes, need to change their style of doing business immediately....

All economic activities including the most complex ones are finally aimed at consumption. However, to understand the kind of consumption that may be preferred by an individual, the concept of utility and indifference curve are extremely helpful. It is a very simple concept, with immense ramifications and practical use for ensuring allocation efficiency....

An entrepreneur has to perform many tasks to be able to make his or her business successful in the market. Here are some of the various functions that an entrepreneur must perform....

An entrepreneur comes across several types of challenges and problems. To handle them effectively, he needs to inculcate certain personality traits and characteristics as well as develop certain necessary skills. Many of these balance each other, like confidence, skill to analyze risks and preparedness for contingencies. Technology, communication and market understanding are also essential....

Microeconomics and macroeconomics constitute the fundamental divisions of economics, each addressing different tiers of economic operations. While certain principles are shared, they center on discrete levels of examination, leading to diverse consequences for decision-making and policy formulation....

Entrepreneurs need to possess a particular skill-set to become successful in their chosen field. In this article, we will be discussing some of the most important ones, with examples. Feel free to comment and share your experience with me in the comments section....

Entrepreneurs share certain common characteristics, but also differ from each other in several aspects. These differences can form the basis of their classification, thereby giving rise to various types of entrepreneurs. Among them the classification of Clarence Danhof based on innovation and risk taking gives a lot of insights about them. However, there are also other classifications....