Commerce Chronicles

  What does it take to transform a simple idea into a thriving business? As a highschool senior, I decided to go on a journey to find out. My idea was simple: contact local business owners and present them with my intention of making them their own specialized business website and then creating one with the help of AI tools and a few customisations in exchange for a small amount of money. It sounds straightforward, but the lessons I would learn throughout this process were far from being simple. Filled with passion, excitement, and the thought of becoming rich at a young age, I began calling every single bookstore, hairdresser, and event planner in my city. After getting rejected by the first few of my potential clients I failed to get demotivated as my drive for success could not be constrained by a few failures. I tried again and again and again…., until there was no one else to call. All I was met with was a ‘no thank you’ or a ‘i'll get back to you’. Frustrated, I decided that

  Understanding Fiscal and Monetary Policies and Their Impact on the Economy As a student studying economics, I've come to realize how crucial fiscal and monetary policies are to the overall health of an economy. These two tools are used by governments and central banks to manage economic growth, control inflation, and reduce unemployment. Though they have different mechanisms and objectives, both are essential in shaping the economic landscape. Fiscal Policy:  Fiscal policy is all about the government's use of spending and taxation to influence the economy. When the government wants to stimulate economic growth, it can do so by increasing public spending or cutting taxes. This is known as expansionary fiscal policy. For example, during a recession, the government might decide to build more roads, schools, and hospitals. This not only creates jobs but also puts more money into the hands of consumers, who are likely to spend it, thereby boosting demand. Lowering taxes also leave

  How Banks Work: A Casual Dive into the World of Banking Ever wondered what banks actually do with your money? Let's break it down in a way that's easy to understand. When you deposit your hard-earned cash into a bank, it doesn't just sit there gathering dust. Banks use your money to make more money, and here’s how it works. Think of it as a cycle. You deposit your money into your account, and the bank uses that money to give out loans to other people. These loans could be for anything from buying a new car to starting a small business. Now, why would the bank do that? Because they earn interest on those loans. So, they pay you a bit of interest for keeping your money with them, and then they charge a higher interest rate to the people they lend it to. The difference between these interest rates is where the bank makes its profit. But banks do more than just lend money. They also provide a bunch of other services. Ever used a debit card, written a check, or taken out a mor