When you opt for Cake against Ice-cream, you have sacrificed the experience of eating ice cream. When you opt for Watching TV over outing, you have sacrificed an enjoyable outing experience. Every day and in several matters, we choose one over the other choice. The choice we sacrifice in favour of the choice we make is the opportunity lost. This is why it is called Opportunity cost. This is … Continue reading You Need to Know This Important Concept For Better Decision Making
Our ignorance is limitless. We, the souls are ignorant about the theory of Karma governing every soul, We the Soul living in the body do not know how our body works. Our body does economic activity most of the active life, but we do not know how the economics works. “In our time, the curse is monetary illiteracy, just as inability to read plain print … Continue reading 7 Important Reasons Why You Need to be Economics Literate
REPO rate reduction of 0.25% is making the Indian investors excited. Investors believe this will trigger higher off-take of loans, higher economic activities. In reality, cheap money only can’t trigger more demand or higher capacity built up. There are several other factors. However, in this post, we will know about the RBI’s interest rate management. RBI manages liquidity in the market and inflation with REPO … Continue reading The Impact of REPO Rate on Your Pocket and Business
One plate Dosa at a restaurant costs Rs. 90/- which Uber Eats delivers to us at Rs.40/- This is a huge bargain for us. The question struck in our mind is how Uber eats and Swingy can deliver food at a cheaper price than the price we pay at the restaurant? We believe it as a promotional cost either the delivery company or the restaurant … Continue reading You Need to Know How Selling Cheap also Could be Profitable
“An economist is a man who knows a hundred ways of making love but doesn’t know any women.” Art Buchwald. You might not have studied Economics in school or College. You have studied Derivatives and Integration. The reality of our education is most of us who have studied Derivatives and Integration never used it throughout life. But we daily use economics laws. Mostly without our … Continue reading Why You Need to Know Two Laws of Economics Marketers Use
“Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity.” Martin Luther King, Jr. Most of us are only interested in tax rates as far as the Union Budget is concerned. However, there is more to the budget which impacts our life. Tax rates are only a part of the overall impact. Now Indirect tax rates are decided by the GST Council. So for the common … Continue reading Economy, Union Budget, and Your Ignorance. What You MUST Know?
Financial literacy is about how you deal with your money. This is about simple basic things about money. Financial literacy is not necessarily your literacy about the language i.e. reading and writing. It is different. “The number one problem in today’s generation and economy is the lack of financial literacy.” Alan Greenspan It is about understanding your income, expenses, investments, credit, budgeting, planning, and knowing … Continue reading 9 Key Financial Literacy Aspects You need to Know