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The Positive Impact of Applying Economics to Communication Centers

Christina Davis

Abstract


Communication Centers as Uniquely Positioned to Benefit from Economic Praxis

Communication centers are essential for businesses, government agencies, and non-profit organizations. These centers serve as a hub for communication between universities, speakers, and the public. Communication centers are also responsible for providing customer service, support, and information to speakers, staff, and their communities through various channels, such as phone calls, emails, chatbots, and social media platforms. According to Thomas Sowell, economics is the study of how people make decisions when resources are scarce, which is a particular specialty of communication centers (Sowell, 2019). The implementation of economic principles in communication centers can optimize their operations, increase efficiency, and improve customer satisfaction. This essay will specifically discuss the principles of cost-benefit analysis, supply and demand, the law of diminishing returns, marginal analysis, and game theory.



Keywords


Economics; Communication center, supply; demand

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Communication Center Journal