EconAir

Positive Externality You need to know three things about management and corporate finance: 80/20 Rule Opportunity Cost Compound Growth 80/20 Rule (Also called Pareto’s Law) This idea says that a relatively small percent of actions account for a relatively large percent of outcomes. Find and concentrate your efforts on the important influences on your business (and life). 20% of your customers account for 80% of your sales. 20% of your product line accounts for 80% of your sales and profits. Often, companies with a large product line with many variations find that 50% of their products account for over 90% of sales. An even smaller percent usually account for most of the profits. 20% of your SKUs account for 80% of your stockouts (and lost sales). 20% of your programmers account for 80% of the bugs in new programs. The percentages aren’t always 80/20. Some examples: McDonald’s accidentally learned that 10% of its customers accounted for 60% o...

  City Life for Most Residents SUMMARY   Global population has more than doubled since 1970, going from 3.7 billion to the current (November, 2023) total of 8.0 billion ( UN numbers ). The  Lancet  long-term projection is that world population will peak around 9.7 billion in the 2060s and then begin to decline, reaching around 8.8 billion people in 2100.   In the most recent United Nations projection (2024), global population is expected to peak at about 10.3 billion sometime in the 2080s and then fall to 10.2 billion in 2100.    Compared to the present, Africa is expected to have about 2.2 billion more people in 2100. The rest of the world is expected to see a decrease of about 1.4 billion people. One billion of the decrease will occur in China and India. The rest of the decrease will occur mostly in Europe, southeast and southern Asia, and Japan. The United States and Latin America (because of increasing population in Mexico) will see little chang...