Category: Business

Principles of Economics back 1890 (see Book IV, Ch. It’s mostly of the semi-technical items of economics-speak to make it into everyday conversations. But in detailing the concept to students I don’t always have as as much good concrete good examples as I’d like. Are some of the good examples I use Here. But if readers are aware of sound citations to academic research to back up these examples, or other other examples with a sound research backing, I’d be delighted to listen to about them. A number of examples of economies of size are plausible real-world illustrations.

Why are there only two major firms producing airplanes: Boeing and Airbus? A likely answer is that because of economies of scale make it, it is difficult for smaller firms to obtain additional than a very specialized niche of the market. Why is there two big cola soft-drink companies: Coca-Cola and Pepsi? Why are there a relatively few nationwide fast-food hamburger stores: McDonald’s, Burger King, Wendy’s?

A likely explanation is that we now have economies of level for such companies, partly in terms of being able to afford a national promotion and advertising budget, partly in conditions of cost advantages of buying large levels of inputs. Why is there only 1 company providing tap water in your city? Because there are economies of scale to building this type of network and running duplicative sets of pipes for more water companies would be inefficient. In the second edition of my own Principles of …

You realize these sermons that stick to you eternally? I remember one from my early years of college. Hillside Church, Sunday evening service (back in the day when churches still had Sunday night-time companies), Harry Brown of Cityteam ministries. He mentioned (to paraphrase): In the event you (as an American church-goer) had to jot down a missionary prayer letter to your fellow church members on how God is using you to minister to others, what would you say? Cuz we’re all alleged to be missionaries.

That gets drilled into our heads, even when we are little in Sunday School. But what does that even imply? One thing that I actually really love about truly being an overseas missionary is that it forces me to really stay like a missionary. We’re held totally accountable for our funds. We get a stipend from HOPAC but almost all that we dwell on comes from sacrificial donations. Have you learned what it feels like to stay like that? We think twice about how we spend it.

We are continually conscious that all the things now we have in the results of different people’s love and faithfulness. We’re forced to see what we own as sacredly entrusted to us to do God’s work. Yes, we do go on holidays and we actually eat greater than rice and beans. But we are reminded on a daily basis that all that we have now belongs to God. We’re held completely accountable for our time. Yearly our mission …