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 factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. It also seeks to analyse and describe the global economy. (Full article...) Selected article The slate industry in Wales began during the Roman period when slate was used to roof the fort at Segontium, modern Caernarfon. The slate industry grew slowly until the early 18th century, from when it expanded rapidly and reached its peak output in the late 19th century, at which time the most important slate producing areas were in north-west Wales. These included the Penrhyn Quarry near Bethesda, the Dinorwig Quarry near Llanberis, the Nantlle Valley quarries and Blaenau Ffestiniog, where the slate was mined rather than quarried. Penrhyn and Dinorwig were the two largest slate quarries in the world, and the Oakeley mine at Blaenau Ffestiniog was the largest slate mine in the world. The Great Depression and the Second World War led to the closure of many smaller quarries, and competition from other roofing materials, particularly tiles, resulted in the closure of most of the larger quarries in the 1960s and 1970s. Slate production continues on a much reduced scale. Selected image
Selected economyThe economy of Greece is the 54th largest in the world, with a nominal gross domestic product (GDP) of $250.276 billion per annum. In terms of purchasing power parity, Greece is the world's 55th largest economy, at $430.125 billion per annum. As of 2023, Greece is the sixteenth largest economy in the European Union and eleventh largest in the eurozone. According to the International Monetary Fund's figures for 2024, Greece's GDP per capita is $23,966 at nominal value and $41,188 at purchasing power parity. Among OECD nations, Greece has a highly efficient and strong social security system; social expenditure stood at roughly 24.1% of GDP. Greece is a developed country with an economy based on the service (80%) and industrial sectors (16%), with the agricultural sector contributing an estimated 4% of national economic output in 2017. Important Greek industries include tourism and shipping. With 31.3 million international tourists in 2019, Greece was the 7th most visited country in the European Union and 13th in the world. marking a steady increase from 18 million tourists in 2013. The Greek Merchant Navy is the largest in the world, with Greek-owned vessels accounting for 21% of global deadweight tonnage as of 2021; The total capacity of the Greek-owned fleet has increased by 45.8% compared to 2014. The increased demand for international maritime transportation between Greece and Asia has resulted in unprecedented investment in the shipping industry. (Full article...) Selected quote"In a plant where required numbers actually dictate production, I like to point out that the slower but consistent tortoise causes less waste and is much more desirable than the speedy hare who races ahead and then stops occasionally to doze. The Toyota production system can be realized only when all the workers become tortoises. High-performance machines were in demand for a long time before the term "high performance" was thoroughly examined. When we say high performance, we may mean high-precision finishing, low energy consumption, or even high-precision finishing, low energy consumption, or even trouble-free machines. Each can be correct. However, a frequent mistake is to regard high-productivity and high-speed machines as being the same. If we can raise the speed without lowering the operable rate or shortening the life of the equipment, if a higher speed will not change the manpower requirements or produce more products than we can sell - then we can say high speed means high productivity. Speed is meaningless without continuity. Just remember the tortoise and the hare. Moreover, we cannot fail to notice that machines not designed for endurance at high speeds will have shortened lifespans if we speed them up."
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