Notes, abstracts, papers, exams and problems of Economy

Understanding Power Sharing

Horizontal Distribution of Power

Power is shared among different organs of government, such as the legislature, executive, and judiciary. This is called horizontal distribution of power because it allows different organs of government placed at the same level to exercise different powers.

Such a separation ensures that none of the organs can exercise unlimited power. Each organ checks the others, resulting in a balance of power among various institutions. For example, although judges are appointed by the executive, they can check the functioning of the executive or laws made by the legislatures. This arrangement is called a system of checks and balances.

Vertical Division of Power

Power can also be shared among governments... Continue reading "Understanding Power Sharing and Employment Generation Strategies in Government" »

Customer/ cliente: is a person who buys goods or Services.

Customer loyalty/ Fidelización del cliente: is when a supplier receives the ultimate reward for His efforts.

Customer royalty: nobleza del Cliente.

Customer care/ atención al Cliente: is a service provided by companies, where they solve queries of Customers.

Repeat Business: customers to buy from companies again And again.

Code of practice: set of Rules. Explains what the consumer can expect of the company. Service: job where People do or provide something rather than produce something. Goods: are Products or objects that can satisfy people's wants.

Marketing: is the process Of performing market research, selling products to customers. Telecommunications: is the transmission of information,... Continue reading "Hrm, company-of-origin, analysis" »

Introduction

Price is the sum of all the values that customers give up to gain the benefits of acquiring or using a product. It is one of the most flexible elements of the marketing mix, as prices can be changed quickly.

Importance and Impact of Price

Price has a major impact on a firm's market share and profitability. Due to fixed costs, a small change in price can have a larger impact on profit.

In recent years, the Great Recession and the internet have made it easier for consumers to compare offers, leading to more frugal and conscious spending habits.

Cutting Prices: Not Always the Best Answer

Cutting prices is often not the best answer, as it can lead to lost profits, damaging price wars, and cheapening the brand.

Instead, companies should focus... Continue reading "Pricing Strategies: Understanding Value, Costs, and Competition" »

Which topic is studied in Macro?

ALL (Output growth, Unemployment, Inflation)

Which is not a macroeconomic policy of governments

Stock prices

Equilibrium is defined as...

Aggregate output equals consumption minus investment

The saving/investment approach suggests that an economy is equilibrium when..

S=I

If S=-Co+(1-C1)(Y-T), the term (1-C1) is called the...

Marginal propensity to save

Which of the following indexes are used to measure the overall price?

ALL of ABOVE (CPI, PPI, GDP deflator)

The equilibrium condition for the goods market is called the...

IS relation

A decrease in the real money supply will shift the LM curve...

Upward and to the left

Lower real income... the demand for money and a lower price level... the demand for money

Decreases, increases

Liabilities

Financial Plan (Planning)

Financial plan is the process of managing your money to achieve personal economic satisfaction.

Financial Plan Incorporates:

• Formalized report - follows proper procedures, orderly, endorsed
• Summarizes current financial situation - Now the way it is
• Analyze financial needs - need to purchase for?
• Recommends future financial activities
• Measure progress toward financial goals

Advantages of Financial Plan:

1. Increases effectiveness in obtaining and using your financial resources - aids in credit, obtain capital, collateral
2. Increased control of your finances
3. Improved personal relationships
4. Freedom from financial worries

Financial Life Cycle:

1. Borrowing phase - school, home, family, purchase items
2. Accumulation phase - savings, investments,

SWOT analysis: a form of strategic  that identifies and analyses the main internal strengths and weaknesses and external opportunities and threats that will influence the future direction and success of a business.

EXPLANATORY FACTORS OF GROWTH 

1. Institutional factors 

International cooperation bodies -----> monetary and financial stability

Bretton Woods (1945) for solving imbalances of balance of payments in post-war economies: creation of IMF and IBRD (BM) for international monetary cooperation; establishment of parity system or fixed exchange rates but adjustable among different currencies; adoption of $ as gold- convertible international currency (gold-$ exchange standard); the new order represents a realistic commitment to the rigidity of the 19th century gold standard (prioritises external balance) and insecurity of flexible exchange rates of the 1930s (economic nationalism) --> the international monetary system is thus endowed with certainty... Continue reading "Concept of education" »

CSR Can be defined as a way of managing companies Based on the management of the impacts (taking responsibility of them) that Their activity generates on their clients, employees, shareholders, local Communities, environment and on the society in general. It´s a “balanced approach for organizations to address economic, social and Environmental issues in a way that aims to benefit people, communities and Society”(International Organization Of Standarization). Following the European Comission, CSR is ‘a concept Whereby companies integrate social and environmental concerns in their business Operations and in their interaction with their stakeholders on a voluntary Basis’.

Today´s Companies play a larger role than the purely economic.

1. Distinguish between logistics defined as materials Management and logistics defined as physical distribution. What are the Similarities in each situation? Differences? - Materials management deal with The initial process of logistics where it takes the raw materials and ships Them to the part suppliers, from where they go into the production process. Physical distribution deals with the Later stage of logistics where the goods go from the production process to Intermediaries and from there they reach customers. They are similar in the sense of both being Connected with the production process and contributing  to have goods in the hands of end consumers Sooner or later, and they both have a sort of a web when raw materials/good to The next... Continue reading "Concept of education" »

10) What effect does a price increase have on producers' total revenue?

Answer: The effect of a price increase in total revenue depends on the elasticity of demand. If the demand is elastic, then total revenue will decrease because the decrease in the quantity demanded will outweigh the

effect of the higher price. If the demand is inelastic, then total revenue will increase. In this case, the decrease in the quantity demanded is proportionally less than the increase in price and so the higher price leads to

 increased total revenue. Finally, if the demand is unit elastic, then the higher price does not change the total revenue. The percentage decrease in the quantity demanded just equals the percentage increase in the price

 and so the two effects