Robinson Crusoe economy
A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is ...
Robinson Crusoe economy - Wikipedia
Freebie marketing
Freebie marketing, also known as the razor and blades business model, is a business model wherein one item is sold at a low price (or given away for free) in order to increase sales of a complementary...
Freebie marketing - Wikipedia
The dismal science
"The dismal science" is a derogatory alternative name for economics coined by the Victorian historian Thomas Carlyle in the 19th century. The term drew a contrast with the then-familiar use of the phr...
Common law of business balance
The common law of business balance is the principle that one cannot pay a little and get a lot. In addition, paying a cheap price will not guarantee the buyer will receive a product of high quality va...
There ain't no such thing as a free lunch
"There ain't no such thing as a free lunch" (alternatively, "There is no such thing as a free lunch" or other variants) is a popular adage communicating the idea that it is impossible to get something...
There ain't no such thing as a free lunch - Wikipedia
Rule of three (economics)
The rule of three in Business and Economics is a rule of thumb suggesting that there are always three major competitors in any free market within any one industry. This was put forward by Bruce Hende...
Comparative advantage
The theory of comparative advantage is an economic theory about the potential gains from trade for individuals, firms, or nations that arise from differences in their factor endowments or technologica...
A rising tide lifts all boats
The aphorism "a rising tide lifts all boats" is associated with the idea that improvements in the general economy will benefit all participants in that economy, and that economic policy, particularly ...
Tying (commerce)
Tying (informally, product tying) is the practice of selling one product or service as a mandatory addition to the purchase of a different product or service. In legal terms, a tying sale makes the sa...
Marginal rate of transformation
In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve, production-possibility boundary or product transformation curve, is a graph representing product...
Marginal rate of transformation - Wikipedia
Production-possibility frontier
In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve, production-possibility boundary or product transformation curve, is a graph representing product...
Consumer choice
In microeconomics, the theory of consumer choice relates preferences (for the consumption of both goods and services) to consumption expenditures; ultimately, this relationship between preferences and...
King Camp Gillette
King Camp Gillette (January 5, 1855 – July 9, 1932) was an American businessman. He invented a best selling version of the safety razor. Several models were in existence before Gillette's design. Gill...
King Camp Gillette - Wikipedia
Pareto efficiency
Pareto efficiency, or Pareto optimality, is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off. The ter...
Pareto efficiency - Wikipedia