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When the will of a majority population group exclusively prevails in a system of government, it results in the potential for tyranny over minority groups.

Oct 20, 2020

tyranny-of-the-majority-explained

In the age of the Internet, consumers frequently turn to social media networks for information before making a purchase. Since buyers now make many purchasing decisions on socia...

Oct 20, 2020

social-selling-tips

The product development process begins with market research and idea generation, and ends with a successful product offered to the general public.

Oct 20, 2020

product-development-process

In the world of business, it can be easy to place a higher value on avoiding losses than on potential gains. This principle is known as loss aversion.

Oct 20, 2020

loss-aversion-explained

When two partners in a business transaction have access to the same relevant information, their business relationship is completely symmetrical. In many transactions, however, o...

Oct 16, 2020

information-asymmetry-explained

Some business endeavors incur costs that cannot be recovered. In business decision-making, such expenses are called sunk costs.

Oct 16, 2020

how-to-recognize-the-sunk-cost-fallacy

Purchasing a home requires many different payments to different entities. While most homeowners make years of monthly payments to cover their mortgage, they must first cover a s...

Oct 16, 2020

upfront-cost-definition

When two small businesses compete to reach new customers and dominate a target market, one may succeed and the other may fail. For decades, analysts have studied such cases to u...

Oct 16, 2020

how-to-create-a-unique-selling-proposition-for-your-business

Critical thinking skills are a common requirement in job descriptions, but what exactly does that mean?

Sep 30, 2020

guide-to-critical-thinking