Economics for Entrepreneurs

Top 5 Principles of Economics for Entrepreneurs

by / ⠀Funding Startup Advice / November 11, 2012

Economists love theory – sometimes, they love theory so much that they forget about the applications. As an entrepreneur and an expert in practicality, you can enjoy the fruits of economic theories. Below: five principles of economics for people of action. People respond to incentives. When you fully understand this principle, the rest of economic theory seems redundant. The casual reader of popular economics (such as the ubiquitous Freakonomics by Levitt…

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