What it is: Behavioral economics is the branch of economics that studies how the effects of psychological factors influence and explain economic decision making. It studies the cognitive, emotional, cultural and social effects on decisions made by economic actors.
Behavioral economics emerged in the 20th century along with advances from the fields of psychology and neuroscience. Through his book The Economic Approach to Human Behavior in 1976, economist Gary S. Becker describes rational choice theory. The theory tells you that economic actors have stable preferences and seek to maximize behavior. He uses an economic approach to understand all human behavior including those related to social interactions, crime and punishment and irrational behavior. Some of the leading contributors to the study of behavioral economics are Herbert Simon, Daniel Kahneman, George Akerlof, Robert J. Shiller, and Richard Thaler.
The importance of behavioral economics
Behavioral economics is a relatively modern economic theory. It is important to understand economic behavior and understand the reasons why economic actors perform certain actions. Then, behavioral economists use social, moral, and psychological factors to study them.
In textbooks in general, economic actors are assumed to be rational. Individuals seek to maximize satisfaction when consuming goods and services. And, …
In this new normal era, many people are starting new businesses to increase their income. There are those who trade in food, beverages, clothing, cosmetics to medical equipment or personal protection such as masks and hand sanitizers.
Of course, with this pandemic, we are not allowed to go out of the house if it is not really important. For this reason, many traders choose to sell their goods through online sites, so that their goods can be sold in the market.
Trading in the online world, definitely requires advertising, so that products are better known to the public. Advertising can also be on television or radio. However, when placing product advertisements, the elements of advertising must be considered, so that buyers are interested in the products being sold.
Let’s look at the elements of advertising that must be known, so that the merchandise is in demand and known by the public.
The first element when you want to advertise a product, Sahabat Fimela must determine the interest or target buyer, so that buying interest arises to buy the product, which is offered through the advertisement.
In making a promotion or advertisement, you must pay attention to interesting …
Being a single mother is certainly not easy. Apart from having to raise their children alone, single mothers must be able to play the role of a father, namely in earning a living.
In making a living, a single mother does not have to work in a company. However, running a home business can certainly be the right solution. That way, a mother can take care of her child at home as well.
Here are some businesses that are suitable for single mothers.
Sell baby and children’s food
Biscuits or bread are two foods that are preferred by babies and children. If you are good at making both, what’s wrong with opening a baby and child food business at home. With his cooking skills, the business will run smoothly.
The next task is to determine the variety of biscuits and bread to be cooked. Starting from the variants of taste and shape, basically how to make babies and children like to eat it.
Besides being sold, you can make stock for your own children too. So, you don’t have to buy biscuits or cookies outside anymore because homemade is no less delicious.
If you love children, then this child …
Everyone needs food and will always be looking for it, that’s why the culinary business is never empty of buyers. If you intend to enter the business world, it never hurts to take this business into consideration.
As with other types of businesses, the culinary business will certainly have its own challenges in it. But you can start this business on a small scale or even the one that suits your abilities best, so that later you can run it more easily.
Make sure you have the right business plan from the start, so you can manage and run things on target. This is important, to make it easier for you to achieve success in the culinary business that will be run later.
Here are some culinary business plans to consider, so that your culinary sales can sell well in the market.
1. Location and reach are very wide
Not only dwelling in certain areas, the culinary business has the potential to expand very widely. You can build a culinary business in places that suit your business plan and also your financial capabilities.
If you have the capital, then choosing a very strategic location can certainly be an option. However, …
Everyone has their own abilities and skills in which he is an expert. So, have confidence and think about how to use those skills to make money. Money is a basic necessity and people want the more money they can get. Because life is busy and people are busy making a living, some ideal online choices are also available to make money. It just takes the perfect job or business choice, your time and effort too. Working offline is an outdated way of working. More and more people like to work from their home and like to save the money they spend on traveling that they do to go to the office.
Businesses related to the food industry will never go out of style because some people are the type of food lovers. If you are good at making cakes and pastries, then you can become a source of income. This business is always in demand. This is the ideal choice for a home online business. For a business perspective, you can create a cake-related ordering website, where you will receive orders for cakes and cakes that are baked at home.
You can even give gift packages for cookies and …
The development of the Food Truck business occurs due to a growing trend in various cities. The Food Truck business opportunity can also be said to be quite promising, especially for culinary entrepreneurs.
Food Truck itself is a type of business that is engaged in the food and beverage sector, where all operational activities are carried out using large vehicles.
The unique concept carried by the Food Truck is a positive thing that presents a new culinary experience for the community. Consumer response is also quite good. This can be seen from the number of visitors who come every day.
Deciding Which Food Truck Concept You Want
Naturally, business people think about the concept they want to create. This includes the Food Truck business type. Think carefully about the concept you want; Do you want to create an easy Food Truck concept by selling fast food?
Determine the Food and Beverage Menu
From the concepts that you have created, you can develop these concepts by determining the food and beverage menu that you want to sell. Don’t forget to make the product you sell have a unique packaging.
Determining the Right Cashier Application
The cashier application is one of the …