Consumer Economics: What is the Market Absorption Rate?

Consumer Economics: What is the Market Absorption Rate? In school, some students avoid economics because they might feel as though the lessons have little-or-no application in the real world.  Unfortunately, this is usually not actually the case. Economics concepts play many roles in our daily lives – and if we can understand how these concepts … Continue reading Consumer Economics: What is the Market Absorption Rate?

What is Opportunity Cost?

Opportunity cost sounds like a dry topic, but it is a concept that can be applied to many aspects of daily life. I recently found a quote from a famous author and realized that it applies to life, business, economics, opportunity cost, and just about every other aspect of our waking moments. “For every opportunity … Continue reading What is Opportunity Cost?