Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A solid understanding of economics and finance can give small-business owners a leg up in managing their companies. Competition between different firms is a major topic in economics that is also of ...

Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...