Notes, summaries, assignments, exams, and exercises for Economics for Secondary education

Total Utility and Marginal Utility

Total utility (UT) is the satisfaction an individual derives from the consumption of a specific good.

Marginal utility (UMG) is the addition to total utility produced by consuming one additional unit of a good.

Relationship Between Total and Marginal Utility

If a consumer increases consumption by available doses of a good, their total utility (UT) grows at a decreasing rate. This occurs because the value obtained by the addition of a new unit (UMG) is smaller than the previous unit, reflecting the decreasing intensity of need satisfaction.

The Law of Diminishing Marginal Utility

There is a direct relationship between UT and the quantity (dose) consumed. However, this relationship breaks down when the quantity consumed...

Financial Discount and Clearing Account Credit

Financial discount (clearing account credit) often involves considerable cost increases if the beneficiary does not use the funds in their entirety immediately and for the full term during which they take effect, because accrued interest applies to the whole credit.

Bank Guarantees and Deposits

Bank guarantees are guarantee contracts under which the credit institution assumes responsibility for compliance with the customer's obligation when the customer is the principal debtor. They involve the commitment of funds to pay a debt if the principal debtor does not pay.

The bank will charge the appropriate commission agreed on the amount of the guarantee and interest. In case of default by the guaranteed...

Rating 1 — Discounted Commercial Paper

Discounting refers to the acceptance by banks of commercial paper, bills, notes, or other negotiable instruments in order to mobilize working capital for the sale of goods and services. The purpose of this operation is to receive in advance the proceeds from sales to third parties through negotiable instruments. Discounting supports bills of exchange, promissory notes, and policies. The main users of discounting are sole traders and commercial companies, although other entities may also use it even if the business tax treatment differs.

Typical instruments and users:

• Bills of exchange
• Promissory notes
• Commercial policies
• Primary users: sole traders and commercial companies

Pull Discount

Pull discount is a discount...

Sales Promotion: Short-Term Incentives for Growth

Sales promotion involves short-term incentives designed to increase the purchase or sale of a product or service.

Consumer Promotions

Promotions designed to encourage consumers to purchase. These include:

• Free samples
• Coupons
• Rebates
• Discounts
• Premiums
• Point-of-sale advertising
• Contests and sweepstakes

Channel Promotions

Promotions directed to brokers to obtain their support and increase their efforts. These include:

• Discounts and rebates
• Free products
• Cooperative advertising
• Trade shows and conventions

Sales Force Promotions

Promotions designed to motivate the sales force and increase the effectiveness of their efforts. These include:

• Bonuses
• Contests
• Sales meetings

Objectives of Sales Promotion

The purpose of sales...

Causes of the 1929 Crisis

• Cyclical financial speculation.
• Capitalist system credit crisis.
• Treaty of Versailles implications.

The New Deal (New Covenant)

A package of economic measures undertaken by President Franklin D. Roosevelt between 1933 and 1937. It was firmly based on state interventionism and the firm belief in the theories of subconsumption. Its two objectives were:

1. Reactivation: Via consumption and investment, increasing the state's fiscal effort and spending to revive production.
2. Control: Setting stricter banking controls to prevent another stock market crash in the future.

Purpose and Measurements

Purpose: To promote exports, increase prices, and remedy structural deficiencies beforehand.

Measurements:

• Devaluation of the dollar.
• Minting of

Franchise

Franchising is a modern form of contracting where the franchisor or producer places identified products under their brand without requiring capital investment or assuming the risk factors typically associated with the franchisee.

Franchise Business Model

This contract allows a person (the franchisee) to license a method for the manufacture and/or marketing of a product or service from the franchisor.

Duties and Responsibilities

• Franchisor: Provides control, technical assistance, and collects royalties.
• Franchisee: Must respect the territory, product standards, pricing, quality, and pay franchise fees while meeting established technical requirements.

Factoring

Factoring is the provision of a service where a factoring company performs administrative...

Business Ethics and Corporate Responsibility

The study of moral ethics determines what is good and how an organization should proceed. The responsibilities of the organization are divided into social responsibility, which encompasses the primary modes of action to achieve organizational ends, and the secondary attitude assumed when responding to problems within the context in which it operates.

Types of Business Ethics

Business ethics govern relationships with various stakeholders, including:

• Buyers
• Suppliers
• State credit institutions
• Society
• Personnel (Internal)

Legal Frameworks Governing Organizations

Nation-states, along with provincial and municipal governments, are responsible for regulating the legal activities in which the organization operates....

Economic Activity

Economic activity is a set of activities made by human beings aimed at meeting their needs. It involves producing goods and providing the necessary services.

Stages of Economic Activity: Production, Marketing, and Consumption

Production

Production combines natural resources, technology, and labor to obtain goods or services.

Types of Goods and Services

• Consumer Goods: Directly meet the needs of consumers.
• Produced Goods (Capital Goods): These are machines, tools, etc., that are used for the production of other consumer goods.
• Production Services: Services like healthcare and public transport entail the creation and organization of hospitals, transport networks, or broadcasters.

Marketing (Distribution and Sales)

After production, commercialization...

Understanding Key Economic Concepts

Benefit: The result of the difference between expenditures and revenues from economic activity. If the costs outweigh the revenue, losses will occur.

Well: Every object that meets a need and has value.

Service: A service designed to meet a personal or social need, but that does not consist of the production of an object.

Cost of Living: The amount of the minimum expenditure needed to obtain basic goods and services. To calculate the cost of living (CDLV), add the value of a set of products. The result defines the Consumer Price Index (CPI) used to see how the cost of living changes, whether up or down.

Inflation: Rising commodity prices.

CPI: Serves primarily to see how the cost of living changes, whether up or...

Fundamentos de la Gramática Española

El Modo Subjuntivo

El modo subjuntivo se utiliza para expresar deseos, dudas, emociones, posibilidades o acciones que no son hechos concretos.

Conjugación del Verbo Saltar (Ejemplos Regulares)

Tiempos Simples

• Presente: Yo salte, tú saltes, él/ella salte, nosotros saltemos, vosotros saltéis, ellos/ellas salten.
• Pretérito Imperfecto: Yo saltara/saltase, tú saltaras/saltases, él/ella saltara/saltase, nosotros saltáramos/saltásemos, vosotros saltarais/saltaseis, ellos/ellas saltaran/saltasen.
• Futuro Simple: Yo saltare, tú saltares, él/ella saltare, nosotros saltáremos, vosotros saltareis, ellos/ellas saltaren. (Uso arcaico o legal)

Tiempos Compuestos

• Pretérito Perfecto: Yo haya saltado, tú hayas saltado,