In economics, the law of marginal diminishing returns states that as additional units of resources are added to production, the incremental increase in output will be at a decreasing rate. In other words, with every additional input, the increase in output will be smaller and smaller.    If increasing your advertising/marketing budget increases your sales, …

Geographic fact The Democratic Republic of Congo is the second-largest country in Africa, after Algeria. It is surrounded by 9 other countries: On the North by the Central African Republic and South Sudan; on East by Uganda, Rwanda, Burundi, and Tanzania; on the South by Angola and Zambia, and finally on the West by the …

There are 54 countries according to the United Nations. The following are African territories: Reunion, Mayotte, Sainte Helena, and Western Sahara. Africa is among the largest exporter in the world with Nigeria and South Africa alone accounting for half of Africa’s GDP. The 10 larger exporting countries in Africa are: South Africa ($88.3 billions) leads with the …

One of the most powerful but yet ignored biases is loss aversion. Everyday, people make bad decisions based on loss aversion. The fear of loss can adversely affect our judgement and decisions. What could have simply been a small casualty can turn have devastating consequences simply because of that fear, loss. It can take from …

Imagine you go back home one evening, open the mailbox and find several mails. In one of them, you have won a $100 gift card. You are so excited that you started making a list of some things you might buy. Then you opened the next mail to find out that a speed camera caught …

Welcome to all! This is the place where economics makes sense, where the most complicated concepts are simply explained. As an Economics major back in college, I was able to understand economics by re-explaining it back to myself in plain English. The most complicated concepts started to make sense and so did all my economics …