Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. (Full article...)
Panavision is an American motion picture equipment company specializing in cameras and lenses, based in Woodland Hills, California. Formed by Robert Gottschalk as a small partnership to create anamorphic projection lenses during the widescreen boom in the 1950s, Panavision expanded its product lines to meet the demands of modern filmmakers. The company introduced its first products in 1954. Originally a provider of CinemaScope accessories, the company's line of anamorphic widescreen lenses soon became the industry leader. In 1972, Panavision helped revolutionize filmmaking with the lightweight Panaflex35 mmmovie camera. The company has introduced other groundbreaking cameras such as the Millennium XL (1999) and the digital video Genesis (2004).
Panavision operates exclusively as a rental facility—the company owns its entire inventory, unlike most of its competitors.
Nigeria has the largest economy in Africa. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. Nigerias debt-to-GDP ratio was 36.63% in 2021 according to the IMF. (Full article...)
"The feature of actual business to which, like Professor Sraffa, we draw attention, and which does not seem to have been generally taken account of in economic theory, is the existence with reference to each seller of groups of buyers who will deal with him instead of with his competitors in spite of a difference in price. If a seller increases his price too far he will gradually lose business to his rivals, but he does not lose all his trade instantly when he raises his price only a trifle. Many customers will still prefer to trade with him because they live nearer to his store than to the others, or because they have less freight to pay from his warehouse to their own, or because his mode of doing business is more to their liking, or because he sells other articles which they desire, or because he is a relative or a fellow Elk or Baptist, or on account of some difference in service or quality, or for a combination of reasons. Such circles of customers may be said to make every entrepreneur a monopolist within a limited class and region and there is no monopoly which is not confined to a limited class and region. The difference between the Standard Oil Company in its prime and the little corner grocery is quantitative rather than qualitative. Between the perfect competition and monopoly of theory lie the actual cases"
...that, according to historical legend, Laissez-faire stems from a meeting in about 1681 between the powerful French finance minister Jean-Baptiste Colbert and a group of French businessmen led by a certain M. Le Gendre?
...that Antoine Augustin Cournot derived the first formula for the rule of supply and demand as a function of price and in fact was the first to draw supply and demand curves on a graph in his Researches on the Mathematical Principles of the Theory of Wealth?
...that the Toyota Production System (TPS) developed by Toyota, that comprises its management philosophy and practices, organizes manufacturing and logistics for the automobile manufacturer, including interaction with suppliers and customers?