The global economic landscape is rapidly changing. The 2000s saw the so-called ‘Tiger Economies’ of Asia growing rapidly; will we see African economies follow? Recent trends suggest that the future is hopeful. Between 2008 and 2013, Sub-Saharan Africa grew at a rate of 4.8% a year, faster than Latin
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Business
Why it is Important to have a Bank Account
> WHAT IS A BANK ACCOUNT? A bank account is a financial account, which stores money on behalf of a customer. In general, the two most common types of bank accounts are transaction accounts and savings accounts. A transaction account (or checking account) allows the customer to freely and immediately
Entreprises, Dettes et Partenariats
PAR MUTJABA GHAUS Savez-vous ce qu’est Coca-Cola ? Quand vous entendez Coca-Cola, qu’est ce qui vous vient à l’esprit ? Une boisson gazeuse et sucrée ? Ou bien une énorme entreprise avec des milliers d’employés dans de nombreux pays ? Chers lecteurs, ce qu’il faut comprendre de ce passage
Learning Business: How to Make Money with Cost of Goods Sold
WHAT IS COST OF GOODS SOLD? The goal of most businesses is to generate revenue and make profits. Many businesses generate revenue and make profit from selling goods that they have bought or produced. Cost of Goods Sold (also known as Cost of Sales) is the cost that a
Learning Business: What is Price Elasticity?
> Imagine this: You go to the store to buy your two favorite things: mangoes and water. You are about to pay, when you see the price of both of these items has doubled! It is just your luck that the store owner decided to change these prices. You put
Learning Business: What is Cost of Goods Sold?
When deciding on a price to sell your product at, there are many things to consider. One of those things is the cost of the goods you want to sell. Cost of Goods Sold means exactly that: how much it cost to make/produce the items you want to sell.
Learning Business: Price Elasticity
BY TINA BOUTIS WHAT IS PRICE ELASTICITY? Imagine this: You go to the store to buy your two favorite things: mangoes and water. You are about to pay, when you see the price of both of these items has doubled! It is just your luck that the store owner decided
Learning Business: Comparative Advantage
BY TINA BOUTIS THE SITUATION Imagine a world with two countries: Easterica and Westasia. To produce 1 mango, Easterica needs 2 workers, and Westasia needs 4 workers. But, to produce 1 banana, Easterica needs 1worker, and Westasia needs 4 workers. Which country do you think should produce each product?
Revenue, Profit, Loss and Market Share
‘Revenue’, ‘profit’ and ‘market share’ are the three basic and very important concepts that every business leader needs to understand. Revenue is the total money that you will get if you sell something. For example, if Tom sold a motorbike to Jerry for 100 dollars, Tom earned a revenue of
Learning Business: Companies, Debt and Partnerships
BY MUTJABA GHAUS Do you know what Coca Cola is? When I say Coca Cola, what comes to your mind? A sweet and refreshing drink? Or a huge company that has thousands of workers in many countries? Dear readers, what we will understand in this passage is how a
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