Notes, summaries, assignments, exams, and problems for Economy

Objectives:

• To facilitate trade under fair conditions
• To keep products of unsatisfactory quality out of the market
• To guide production to meet consumer demand
• To guarantee a high quality level of inspections with independence, integrity, and high efficiency
• To support Spanish exports

Benefits of Having SOIVRE Certification:

• Provides confidence to products that obtain it
• Makes products more trustworthy in front of buyers
• In many cases, products with SOIVRE certification will not have to pass through an inspection to enter certain territories

What SOIVRE Checks:

• If the lot is compliant with EU marketing standards
• Documents (identity/marking: origin, classification, amount, dispatcher)
• Physical check according to risk analysis
• Reduced inspection for goods from

Inflation

Inflation is a persistent or sustained rise in the general level of prices over a period of time.

Types of Inflation

• Cost-Push Factors: Costs that a business has to meet, such as wages or raw materials.
  • Food Costs: Increase in the wholesale price index of essential food items.
  • Raw Materials: Steel, copper, oil, and gas rising in price.
  • Wage Cost: If the workers don't produce more goods to sell, production costs will rise.
  • Land Cost: Rise in the price of lands.
  • Exchange Rate Cost: The prices of one currency in terms of another currency impact business costs.
• Demand-Pull Inflation: Occurs when rising demand pushes up the prices of goods.

Consequences of Inflation

• Poor: The poor are the first to suffer from inflation.
• People on Fixed Incomes: These

Advantages:

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• Finding the correct target audience: Rather of broadcasting advertisements to everyone in the public, advertisers should concentrate on a certain demographic. Customers may be targeted based on themes, keywords, categories, placements, as well as other factors like area, gender, and age. To put it differently, you have complete control over who sees your adverts.

Disadvantages:

Sales Conversion: Sales conversion rates for YouTube advertising are exceedingly low. YouTube video watchers... Continue reading "Advantages and Disadvantages of YouTube and Twitter Advertising" »

International Business Terminology

Certificate of Origin

A certificate of origin (CO) is a document that certifies the country of origin of goods being shipped. It is required by customs authorities of the importing country.

Intellectual Property

Intellectual property (IP) refers to legal rights that result from intellectual activity in various fields. Common forms of IP include patents, trademarks, copyrights, and trade secrets.

Transfer of Technology

The sharing of scientific information, technology, and manufacturing know-how between firms, universities, or other institutions is known as the transfer of technology.

Franchising

In franchising, a franchisee is allowed to use a trade name or trademark in offering goods or services to the public in... Continue reading "International Business: Key Concepts and Terminology" »

1) Which of the following is a tax?

I. A 1% special sales tax for funding local Road construction.

II. A fee paid to the state for a license To practice as an attorney.

III. An income tax imposed by Philadelphia On persons working within the city limits.

IV. A special property assessment for Installing a new water system in the taxpayer's neighborhood.

E) I and III are correct.

2) Marc, a single taxpayer, earns $60,000 In taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. Tax rate schedule for year 2018, how much federal tax will he owe? (Use tax rate schedule) C) $9,139.50

3) Marc, a single taxpayer, earns $60,000 In taxable income and $5,000 in interest from an investment in city of Birmingham... Continue reading "I is correct ii is correct" »

Consequences of Eliminating Export Tax on Cashew Nuts

By eliminating the export tax on raw cashew nuts, it was believed that removing trade barriers would alleviate poverty by increasing the price farmers would receive. Several industrialists who purchased factories opposed the elimination of the export taxes on cashew nuts. The advice failed because the World Bank did not completely analyze the consequences of lifting the export tax barrier. They applied economic theory without considering if the theory would be pertinent in light of the development history of Mozambique. Some consequences were that workers and farmers lost their jobs.

Capital According to De Soto

1. Describe the definition of capital according to De Soto. Why in the non-Western

Core Commercial Service Logistics Parameters

From a logistics perspective, commercial services fundamentally rely on three key parameters:

• Merchandise availability for immediate delivery to the client.
• Quick merchandise delivery.
• Reliability of the promised delivery date to the customer.

Warehouse Definition and Challenges

A warehouse is a "planned space for the efficient location and handling of materials and merchandise." Warehouses aim to solve two primary problems:

• Correct layout design.
• Efficient handling of operational processes (product inputs and outputs).

Warehouse Operational Processes

A warehouse can be considered a production center where a series of processes are carried out:

• Receiving merchandise.
• Product adaptation (packing, labeling, etc.

Chapter 2

Paragraph Structure:

• Topic sentence: states the topic and introduces the main idea

• Body sentences: support the topic sentence

• Concluding sentence: restates the main idea and ends the paragraph

Steps to develop:

Narrow the topic: make it more specific. You can use brainstorming, questioning, or freewriting.

Topic sentence: it introduces the topic to the paragraph, it states the paragraph’s controlling idea, it is the most general sentence in the paragraph, and it is followed by other sentences that provide supporting facts and examples.

Controlling idea: writer’s opinion or attitude

Supporting ideas: facts and examples that provide the reader with interesting information about the subject matter

You can organize your ideas in:

Time order:... Continue reading "Effective Paragraph Structure and Revision Techniques" »

Multiple Choice Questions

1. The optimal use of a variable input occurs when the marginal revenue product equals marginal factor cost.

2. In which range of market share is a firm typically considered dominant? 30% to 85%

3. Which of the following is usually not a source of sustainable competitive advantage? A firm may have a large marketing budget.

4. Before launching a new type of product, what should a company do? Sensitivity analysis

5. The type of economic indicator used to predict future economic activity is a leading indicator.

6. Which of the following is not part of the four-step forecasting process? Developing internal controls

7. In which model is the new forecast equal to the old forecast plus some proportion of the last observed forecast error? First-order

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4. Sell Products Online

E-commerce platforms like Amazon and eBay make it easy to sell products online. You can start with little overhead and focus on minimizing your exposure... Continue reading "10 Easy Ways to Make Extra Money on the Side" »