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Today, firms use massive sets of data just as they would any other factor of production.

Data as Capital: Rethinking the Factors of Production

In the past quarter-century, digital data has become a new factor of production, allowing firms to create new products, communicate with suppliers and retailers, and advertise to customers. How does data affect firms' value, and how will it affect macro-level economic growth?...
4 min read
Agglomeration Economies
Definitions Business economics Global economics

Agglomeration Economies

Published on September 11, 2023

Monopolistic Competition
Definitions Competitive markets

Monopolistic Competition

Published on August 19, 2023

Law of Diminishing Returns
Definitions Factors of production

Law of Diminishing Returns

Published on August 16, 2023

What is Short Run Aggregate Supply (SRAS)?
Definitions Managing the economy

What is Short Run Aggregate Supply (SRAS)?

Published on August 16, 2023

Total Revenue Formula
Definitions Business economics

Total Revenue Formula

Published on August 14, 2023

Real Interest Rate Formula
Definitions Managing the economy

Real Interest Rate Formula

Published on August 14, 2023

Cost-Push Inflation
Definitions Managing the economy

Cost-Push Inflation

Published on August 11, 2023

Equimarginal Principle
Definitions Behavioural economics

Equimarginal Principle

Published on August 10, 2023

Business Cycle Graph
Definitions Managing the economy Business economics Global economics

Business Cycle Graph

Published on August 06, 2023

Binding Price Floor
Definitions Managing the economy Labour markets

Binding Price Floor

Published on July 31, 2023

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If AI software scans you and decides you want the product more than average, should it be able to charge you more money?

AI Price Discrimination and the End of the “Uniform Price”

Sellers have long wished to be able to charge higher prices to customers who are willing and able to pay more. Now, with AI software, sellers may finally have the ability to quickly and accurately analyze customers' willingness to pay. Is this ethical?...
4 min read

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