Portal:Business
The Business and Economics Portal  Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. 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. A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...) Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. (Full article...) Selected article The London Necropolis Company (LNC), formally the London Necropolis & National Mausoleum Company until 1927, was a cemetery operator established by Act of Parliament in 1852 in reaction to the crisis caused by the closure of London's graveyards in 1851. The LNC intended to establish a single cemetery large enough to accommodate all of London's future burials in perpetuity. The company's founders recognised that the recently invented technology of the railway provided the ability to conduct burials far from populated areas, mitigating concerns over public health risks from living near burial sites. Accordingly, the company bought a large tract of land in Brookwood, Surrey, around 25 miles (40 km) from London, and converted a portion of it into Brookwood Cemetery. A dedicated railway line, the London Necropolis Railway, linked the new cemetery to the city. Financial mismanagement and internal disputes led to delays in the project. By the time Brookwood Cemetery opened in late 1854, a number of other cemeteries had opened nearer to London or were in the process of opening. While some parishes in London did arrange for the LNC to handle the burials of their dead, many preferred to use nearer cemeteries. The LNC had anticipated handling between 10,000 and 50,000 burials per year, but the number never rose above 4,100 per year, and in its first 150 years of operations only 231,730 burials had been conducted. Buying the land for Brookwood Cemetery and building the cemetery and railway had been very expensive, and by the time the cemetery opened the LNC was already on the verge of bankruptcy. The LNC remained solvent by selling surplus parts of its land, but as the land had been chosen for its remoteness, sales were low. Selected image
Selected economyThe economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports. The economy is estimated to be at $73 billion at the end of 2023. The country has reserves of metallurgical-grade chromite. Other commercial mineral deposits include coal, asbestos, copper, nickel, gold, platinum and iron ore. (Full article...) Selected quote"Two fundamental questions that must be answered in controlling the inventory of any physical good are when to replenish the inventory and how much to order for replenishment. In this book we shall attempt to show how these questions can be answered under a variety of circumstances. Essentially every decision which is made in controlling inventoried in any organization, regardless of how complicated the inventory supply system may be, is in one way or another associated with the questions of when to order and how much to order. There are certain types of inventory problems, such as those concerned with the storage of water within dams, in which one has no control over the replenishment industry. (In other words, the ressuply of the inventory of water within the dam depends on the rainfall, and the organization operating the dam has no control over this.) We shall not consider this type of problem here. The only problems with which we shall concern ourselves are those in which the organization controlling the inventory has some freedom in determining when, and in what quantity, the inventory should be replaced. On other hand, we shall assume that, in general, the inventory system has no control over the demands which occur for the item, or items, which it stocks. Again, this is just the opposite of what one encounters in dealing with inventory problems such as storage of water within dams, since the efflux of water through the dam is completely within the control of the organization operating the dam. In short, we are going to consider the type of inventory problem encountered in business, industry, and the military. We shall concentrate on showing how mathematical analysis can be used to help develop operating rules for controlling inventory systems. When mathematics is applied to the solution of inventory problems, it is necessary to describe mathematically the system to be studied. Such a description is often referred to as a mathematical model. The procedure is to construct a mathematical model of the system of interest and then to study the properties of the model. Because it is never possible to represent the real world with complete accuracy, certain approximations and simplifications must be made when constructing a mathematical model. There are many reasons on this. One is that it is essentially impossible to find out what the real world is like. Another is that a very accurate model the real world can become impossibly difficult to work with mathematically. A final reason is that accurate models often cannot be justified on economic grounds. Simple approximate ones will yield results which are good enough so that the additional improvement obtained from a better model is not sufficient to justify its additional cost."
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