Student Digest

Three factors are contributing to the increase in the number of business. They are e-commerce and other technologies, growing diversity in entrepreneurship, and Downsizing and outsourcing. E-Commerce and Other Technologies …

What is globalization? Answers Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and…

Who is Adam smith? Answers. Adam smith is a Scottish philosopher, political scientist, journalist, educator, scholar and economist. While his exact date of birth isn’t known, Smith’s baptism was recorded…

Theories of Adam Smith. Answers Adam smith was an economist and philosopher who wrote what is considered the “bible of capitalism”. The wealth of Nations, in which he details the…

What does the invisible hand of the market do? Answers Term used by Adam Smith to describe the natural force that guides free market capitalism through competition for scarce resources.…

How are inflation and unemployment related in the short run? Answers The inverse correlation between inflation and unemployment should be intuitively easy to grasp. Based on the fundamental principles of…