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

Types of Primary Research Methods

Questionnaires

A questionnaire is a set of questions used to collect data for market research.

Advantages:

• Detailed qualitative information can be gathered.
• Customer opinions can be obtained.
• They can be carried out online.
• Vouchers can be offered to encourage participation.

Disadvantages:

• Inaccurate answers may result from poorly designed questions.
• Can be time-consuming and expensive.
• Collating and analyzing answers is time-consuming.

Online Surveys

Online surveys require the target sample to answer questions over the internet.

Advantages:

• Quicker response times.
• Cheaper than interviews or postal questionnaires.
• Easy for participants to complete.
• Data can be quickly analyzed using IT tools.

Disadvantages:

• Lack of an interviewer

PROFORMA INVOICE

It is a document without taxes value, the seller provides it to the buyer, contains most of the necessary information about an international operation. If the buyer accepts, it is understood that the buyer accepts and confirms the information indicated on it.

Freight Transportation Fundamentals

Importance of an Effective Transportation System

• Greater competition
• Economic Scale
• Reduced price

Service Choices and Their Characteristics

• Price
• Transit time and variability
• Loss and damage

Transportation Rate Profile

1. Volume related rates
2. Distance-related rates
   • Uniform rates
   • Proportional rates
   • Tapering rates
   • Blanket rates: meet the rates of competitors
3. Demand-related rates: Transportation rate is set by competitor

Transportation Charges

• Line-haul rate
  • By products
  • By shipment size
  • By route
  • Miscellaneous rates
• Special service

Line-Haul Rates

1. By products
   • Classification system was devised (T 6.4)
   • Class rates: once a product has a freight classification, line-haul charges can be determined. Zip codes are used for the location (T 6.5)
   • Break

Desirable Qualities:

• Dedicated (works very hard at something that is important to them)
• Dependable (is always there when you need them)
• Enthusiastic (is interested and excited about things)
• Kind (is nice, friendly, and generous)
• Optimistic (has a positive attitude to life)
• Outgoing (likes meeting and talking to new people)
• Sensible (is practical and rational)
• Supportive (gives you help when you are having a difficult time)
• Sympathetic (cares about other people's problems)
• Truthful (is always honest)
• Sensitive (understands other people's feelings or is easily offended)

Jobs:

• Clothes shop assistant
• Farm helper
• Hotel receptionist
• Summer camp monitor
• Supermarket cashier
• Waiter

Vocabulary:

• Character Adjectives: active, confident, dedicated, punctual, reliable, sociable
• Compound:

What is Economic Growth?

Economic growth refers to the increase in the production of goods and services within an economy, typically measured over a long period, such as a year. It is expressed as a percentage increase in the real gross domestic product (GDP), which accounts for inflation.

Calculating GDP

There are two primary methods for measuring an economy's total production:

1. Expenditure Approach: This method sums up all spending on goods and services by households, businesses, governments, and foreign entities. The formula is GDP = C (consumer spending) + I (investment spending) + G (government spending) + (X - M) (net exports).
2. Income Approach: This method calculates the total income earned by all households within a nation.

The Expenditure

Strategic Approach to International Marketing

Internacionalizacija i globalizacija međunarodnih tržišta i konkurencija, Brz tehnološki razvoj, Skraćenje životnog ciklusa proizvoda, Sve teže ofržavanje konkurentske prednosti, Ekonomske integracije stranih tržišta, Višak punude nadpotražnjom > povećana moć kupaca i potrošača, Trgovci smanjuju broj dobavljača

Macroeconomic Environment

Ekonomski sustav, BDP, Stanovništvo i prihodi, Koncepcija ekonomskog napretka, Struktura potošnje infrasturuktura ostali pokazatelji

Hofstede

Hijerarhijska distanca, Individualizam i kolektivizam, Ženstvenost i muževnost, Izbjegavanje nesigurnosti, Kratkoročna i dugoročna orijentacija

Political Risk

Rizik opće nestabilnosti, neizvjesnost budućih... Continue reading "International Marketing and Macroeconomic Environment" »

The Paradox of Saving

As Blanchard states, when autonomous consumption falls (c₀▼), meaning consumers reduce their level of autonomous consumption, equilibrium income decreases. Consumption also decreases, so the level of saving remains unchanged. Mathematically, we can see this in the following formula: S = Y - T - C

We can also see that what really produces variations in saving are variations in investment, public spending, or taxes, and not the fall of autonomous consumption. Mathematically, we can see this in the following formula, where investment equals saving: I = Private Saving + Public Saving; I = S + (T - G), so S = I - T + G

In economics, this theory is known as the paradox of saving, which is closely related to Keynesian economic... Continue reading "Saving Paradox, Monetary & Fiscal Policy, Steady State" »

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:

Time: On YouTube, visitors spend significantly more time than on other display ads. Visitors will be much more likely to be drawn in by advertisements due to the longer session length. Whenever it comes to mobile phones, the rate is substantially greater.

• 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" »