I believe that there is everything necessary for a successful life and work – well-developed traditions, the latest technologies, and safety.
Read more » It is hard for me to remember much about my first trip abroad (to Egypt, namely) because it was about fifteen years ago and I was almost a child at that time, so a lot of memories have been lost somewhere on the way.
Read more » Some economic principles (in fact, most of them) are not limited by the sphere of economics and have great influence over the other lines of human activity. It means that the value of any action should be judged according to how profitable would it be to do something else?
The opportunity cost of doing any action is all the other actions that could have been done instead of it but weren’t.
I know, it can be a lot easier to tell a story to your friends because you can stop, start, and rely on the feedback of someone else to know whether your story is a hit.
In writing, once you’ve written your final draft, that’s essentially your only shot at getting the story right.
But the only thing I remember about that trip is that everything from the very beginning went wrong – not terribly wrong; it was this mildly frustrating “wrong” that doesn’t actually cause any harm or problems, but makes the whole experience of something a bit specific – not the way you would like it to be.
Read more » – on the contrary, I never treated them as something frightening, for I knew that if you prepare for them properly, there is nothing to be afraid of. The problem was that my idea of “properly” has always been somewhat different from what was expected by the professors, and successful passing of the examination usually could have been achieved by about 10% of the effort I actually applied.
If the action brings more profit than any of its alternative, then the decision is economically correct.
If some of the alternatives can bring better results, then the decision is economically wrong.