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Time management tips – how to do more in less time?

Importance of Time Management Tips A tiresome topic – this time management tips. One of the most heard sentences in the exam time is “I have no time, I have to learn”. This “having no time” is something very common. But why are there people who somehow always do better and make things better? The answer is to put… read more »


Contents: When do expenses arise? Effort and operational service provision Expenses – Definition & Explanation – Summary Expenditures are all expenses incurred on use of goods and services. The expenses are always periodized. Expenses arise in a company through the “value-based consumption of goods and services”. So, when a company removes materials from the warehouse… read more »

Expenses – Costs

Contents: What are expenses? What are costs? Difference expenses and costs examples Difference Expenses – Costs – Definition & Explanation – Summary Expenses are all activities that reduce a company’s equity in a given accounting period. It does not matter whether these expenses were incurred for non-operational and operational purposes. Costs are all expenses incurred… read more »

How does money work?

As a means of payment, money is nowadays indispensable. After all, who still operates today’s traditional barter trade as one knows it from earlier times? It is simply more convenient to trade in a form of payment that everyone can use and that everyone accepts as a mode of payment. What is money? Money has… read more »

Difference between Efficiency and Effectiveness – An Easy Approach

Contents: Efficiency and Effectiveness 1. Definition of effectiveness 2. Definition of efficiency 3. Effectiveness and efficiency in everyday life (examples) 4. Summary The difference between efficiency and effectiveness is not that easy to understand. We will try to light up the difference. 1. Definition of Effectiveness Effectiveness is the measure of the achievement of goals. Which means the ratio… read more »

Deadweight Loss

Deadweight loss is the fall in total surplus that results from a market distortion, such as a tax. In economics, a deadweight loss (also known as an excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Under limited circumstances, it… read more »

Business Combinations

  A business combination will transform legally and economically independent companies into larger business entities. As a result, the economic and legal independence of individual companies can be lifted. But it is also a loose cooperation without loss of independence of individual companies conceivable. An overview of the forms of business combinations A merger results in a merger of several independent companies. This merger… read more »

Supply Curve | Definition | Explanation | Graphical Representation

Supply Curve Definition The supply curve is a graphic illustration of the interaction of price and supply. The principle is that the higher the price, the greater the supply of producers. The term supply curve comes from the field of economic theory and describes the natural relationship between supply and price of a product or service. The… read more »

Demand Function

In economics, the demand function represents consumer demand for a commodity as a function of price. The graphical representation is made on a coordinate axis (Y-axis is price / X-axis is quantity) which is known as demand curve. Definition / Explanation The demand function is a function that shows the consumer demand for a good in… read more »


When one speaks in the national economy of so-called externalities, one basically means economically oriented decisions of companies that unintentionally hit uninvolved market participants. The person causing the damage, ie the company here, does not compensate. The injured and uninvolved market participants are therefore not awarded any compensation for the inconvenience caused. As a result,… read more »