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Thanks to APIs, many programmers can create add-ons and extensions to existing software.

API Economies and the Modularization of Production

Thirty years ago, you had to buy entirely new software when your current program became obsolete. Today, you can download an extension, patch, or upgrade. Thanks to APIs, application programming interfaces, these "modular" additions to software can come from virtually anywhere....
4 min read
A 3D visualization of a neural network or abstract brain structure made of interconnected nodes and lines.
Definitions Behavioural economics

Network Effects: A Detailed Guide

Published on October 28, 2024

An image of a treasure box.
Global economics Definitions

Economic Ripple of Spanish Gold

Published on October 28, 2024

Close-up of the word "Skill" in a dictionary, highlighting its definition as an ability developed through training and technique.

7 Labour Market Shifts Driving Adult UpSkilling

Published on October 28, 2024

An image of different US dollar bills and coins.
Definitions Business economics

Real vs. Nominal in Economics

Published on October 25, 2024

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Business economics Definitions

Penetration Pricing

Published on October 24, 2024

A golden dollar sign stands between blue house outlines, symbolizing real estate investment and financial value.

The Ultimate Cost Comparison: PCP vs Leasing vs HP Loans

Published on October 24, 2024

A construction site with a red crane atop a modern glass building, against a cloudy sky.

The Economics of Construction Productivity: Why Management Skills Matter

Published on October 24, 2024

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Definitions Competitive markets Factors of production

Economic Efficiency

Published on October 23, 2024

Colorful sticky notes on a corkboard, featuring the phrase "Gen Z" prominently on a blue note amidst various doodles and graphs.

China's "Fake Office" Trend: Decoding Gen Z's New Work Culture Signals

Published on October 23, 2024

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Definitions Managing the economy

Seigniorage Explained

Published on October 22, 2024

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Although increasingly popular, AI still makes serious mistakes...which could cost companies big bucks in damages.

The Economics of AI Hallucinations and Error Costs

To save money on labor, many companies want to use AI to automate basic office functions, from customer service to research. However, AI is prone to making mistakes that are confidently presented as accurate facts. What are the economic implications of unchecked AI use by companies?...
5 min read

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