Notes, summaries, assignments, exams, and exercises for Economics for Vocational training

Economic Aspects of Franco's Victory

The victory of Franco in the Civil War had very negative economic repercussions. The three years of military clashes broke up the economy. Agricultural and industrial production declined. Many ways and means of communication were destroyed. Gold reserves and foreign exchange were sapped, and buildings and manufacturing facilities were utilized.

The Axes of Autarky

One of Franco's objectives was to achieve economic self-sufficiency (autarky). The result was blocking economic growth and competitiveness and reducing the waste of the economic upturn that met in Europe after World War II. The incorporation of Spain into the rapid growth phase was substantially delayed. Autarky had two major areas of activity:

1. Regulation

Mandatory Rest Days

These are days designated by law where employees are not required to work, often coinciding with national civic events.

Official Rest Days

• 1 January
• First Monday of February (commemorating 5 February)
• Third Monday of March (commemorating 21 March)
• 1 May
• 16 September
• Third Monday of November (commemorating 20 November)
• 1 December of every 6 years (Federal Executive Power transition)
• 25 December
• Days determined by federal and local electoral laws for elections

Annual Holidays

Employees are entitled to an annual period of consecutive paid rest days. This entitlement increases with years of service and includes a mandatory vacation premium of at least 25% of the wages due during the vacation period.

• Workers must enjoy at least 6 days of continuous

Pricing Strategies

Price is the consideration that the consumer is willing to give in exchange for a product.

Three Key Pricing Strategies:

1. Penetration Pricing: Entering the market with low pricing, often in a "closed market." The disadvantage is that these prices are below the optimal price, making it difficult to raise them later. Raising prices after establishing a low price can lead to a decrease in demand.
2. Maximum Pricing: Setting very high prices to maintain a premium image, potentially sacrificing sales volume. This policy is often short-term, as competitors may offer lower prices.
3. Undertaking Prices: This strategy doesn't define the true price initially. It allows for price increases without significant impact because the initial price wasn'

Market Research Process

1. Justification

Justify the need for information, evaluate the benefit-cost ratio, determine the scope, and assess the impact of the study.

2. Specifying Objectives

Identify the goals to be pursued, such as increasing market segments, measuring the acceptance of a new product, verifying product uses, or changing label design and packaging.

3. Research Design and Data Sources

Determine the research design and data sources. This involves asking: how will information be obtained? It requires a comprehensive action plan, specifying data types and sources of information.

4. Data Collection Procedures

Develop procedures and data collection methods using quantitative, qualitative, and mixed tactics. This includes observation, experimental...

The Fourteen Points of Woodrow Wilson

• 1. Open diplomacy
• 2. Freedom of the seas
• 3. Removal of economic barriers
• 4. Reduction of armaments
• 5. Adjustment of colonial claims
• 6. Evacuation of Russian territory
• 7. Preservation of Belgian sovereignty
• 8. Restoration of French territory
• 9. Redrawing of Italian frontiers
• 10. Division of Austria-Hungary
• 11. Redrawing of Balkan boundaries
• 12. Limitations on Turkey
• 13. Establishment of an independent Poland
• 14. Creation of an Association of Nations

Importance to Trade

• Fostering global wealth
• Restoring peace in Europe and global balance
• Stimulating international trade

Neoliberalism and Economic Policy

• Privatization generates employment
• Reaction to the economic context of the 1960s and 1970s
• Public spending generates economic

Asset Operations

Includes: credit, loan, bill of exchange, bank guarantee, leasing, renting, factoring, and confirming.

Asset Definition

These are operations carried out by financial institutions by making financial resources available to their customers, who are obliged, on expiry of the agreed term, to repay the amounts received plus the interest and commissions agreed in the contract.

Liability Operations

Includes: current account, savings account, fixed-term deposit, and pension plan.

Liability Definition

These are operations carried out by banks by attracting financial resources from their clients, with the obligation to return the amounts received in exchange for remuneration known as interest.

Banking Definitions

Current Account

A deposit that...

SMART Objectives

SMART objectives: Specific, Measurable, Achievable, Relevant, Time-bound

Aims vs. Objectives

Difference between aims and objectives: Aims are general statements concerning the overall goals, ends, or intentions of teaching. Objectives are the individual stages that learners must achieve to reach these goals.

AIDA

AIDA: Attention, Interest, Desire, Action. The objective is close to the sale.

Marketing Mix

Marketing mix: 4 aspects to be considered in the market: product, price, distribution, and promotion.

KPIs

KPIs: Numbers related to the objectives set within our strategy or annual marketing plan.

The Boston Matrix

The Boston Matrix: Relationship with the commission and the growth of the market.

The Body Shop (Auditing)

How do the auditing

Defining Business and Core Functions

Business: A business organization that offers goods and services to customers in exchange for money.

Key Business Departments

• Marketing: Publicity and promotion.
• Accounting: Recording incomes, profits, and outcomes.
• Sales: Controlling what the company sells and ensuring quality.
• Budgeting: Planning the spending of money.
• Customer Services: Attention to the client.
• Hiring Employees: Building the best team for the company and comparing candidates.

Organizational Interrelationships

Interrelationships: Effective strategic decision-making, good communication, and cooperation ensure the correct operation of the company.

Legal Entities and Fundamental Rights

Types of Legal Persons

• Natural Person: All individual human beings.

Imputation of Structure Costs

L'imputation Rationelle Method

One of the main disadvantages of full-cost systems is that the unit cost of the product depends not only on the productivity and cost of the applied resources but also on the activity level of the productive centers. The Imputation Rationelle method avoids the influence of this variance (between actual and normal activity level) in unit costs when using a full-cost system. The method modifies the department fixed costs to be assigned to products following these steps:

1. Activity rate calculation for each department and period of analysis (t): the actual activity level (Ar) divided by the normal activity level (An).
2. Actual fixed/structure cost for the period (F) is multiplied by the rate

Understanding the Business Environment

Key variables influencing a company's operations and strategy.

Macroenvironment

External variables that influence the company, which it cannot control.

Key Macroenvironmental Factors:

• Economic Factors: Determined by the overall economic situation and structure.
• Sociocultural Factors: Characteristics of the society in which the company operates.
• Legal and Political Factors: Regulations and political climate affecting all business aspects.
• Technological Factors: Impact of technological advancements.
• Environmental Factors: Ecological and environmental considerations.
• International Factors: Globalization and new technologies affecting businesses worldwide.

Microenvironment

Variables closer to the company that can directly...