In a previous article Supply, demand and market equilibrium we discussed how prices is determined by supply and demand if all else stays equal. In this article I want to talk about ways in which prices can be manipulated to be something other than the equilibrium price and the effect it has on the economy. Price …
Introduction to management
My retired father wrote a training manual for managers many years ago. He worked in HR for most of his adult life. The company he wrote the manual for no longer exists and my dad gave me permission to use his manual in my posts. I had to translate, break down and make it less …
Effective leader traits
Traits are important. It drives behavior and affect perceptions. But which traits contribute to effective leadership? Traits refers to individual attributes like personality, temperament, values, motives and needs. Some of these traits can be developed, while others are to some extend inherited. The importance of each trait depends on the situation. The characteristics of the leader must …
Managers that derail
What causes some managers to be effective and others to derail even though the looked like they have lots of potential? Researchers at the Centre of Creative learning identified traits associated with success or failure of top executives (McCall & Lombardo, 1983; Lombardo & McCauley, 1988; Van Velsor & Leslie 1995). Relevant traits/skills includes emotional stability, …
Supply, demand and market equilibrium.
A good understanding of the laws of supply and demand and market equilibrium is very empowering. It helps us predict what prices will do which also affect decisions like where to invest our money, what skills to learn and when to buy things. Households and firms interact in two basic kinds of markets. In output markets firms supply …
Growing the Economy
We often hear our economy is not growing fast enough. Basically this means that the total output of the economy must increase at a greater pace... meaning we must produce more. If the total output grows faster than the population, the standard of living will increase and we will be better off. This does not necessarily mean …
Making it Work 